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Are Expansions Cost Effective for Stock Exchanges? A Global Perspective

  • Hasan, Iftekhar

    ()

    (Rensselaer Polytechnic Institute and Bank of Finland Research)

  • Malkamäki, Markku

This paper investigates the existence and extent of economies of scale and scope among stock exchanges. Evidence from 38 exchanges in 32 countries and 4 continents around the world for the years 1989-1998 indicates the existence of significant economies of scale and scope. The degree of such economies however differs by size of exchange and region. The largest stock exchanges show an increasing trend of cost effectiveness. Exchanges in North America and Europe report substantially larger economies of scale than those in the Asia-Pacific regions.

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File URL: http://www.suomenpankki.fi/en/julkaisut/tutkimukset/keskustelualoitteet/Documents/0020.pdf
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Paper provided by Bank of Finland in its series Research Discussion Papers with number 20/2000.

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Length: 36 pages
Date of creation: 18 Dec 2000
Date of revision:
Handle: RePEc:hhs:bofrdp:2000_020
Contact details of provider: Postal: Bank of Finland, P.O. Box 160, FI-00101 Helsinki, Finland
Web page: http://www.suomenpankki.fi/en/

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