• Icon to change language to english
  • Icon to change language to english

CAPITAL MARKETS IN EUROPE – INTEGRATION AS AN ANTI-CRISIS MEASURE

Authors

Keywords
capital market, EU, integration, international capital allocation

Summary
The leading thesis in this paper is the concept that the development of a unified institutionalized European capital market is a necessity and a mandatory condition for the successful implementation of the EU economic policy, which, however, has not been recognized as a priority by the governing institutions of the Economic Union. Using empirical research we prove that the average correlation of the indices of capital mar¬kets within the Euronext system is a bit higher and much more stable than the correla¬tion of the chosen five stock exchanges which are not in the Euronext system. That allows for a conclusion to be made that the degree of capital market integration is higher within the Euronext system than outside it, which may be used as a powerful anti-crisis instrument.

JEL: G15
Pages: 14
Price: 3 Points

More titles

  • STRESS TESTING ISSUES IN THE MODERN BANKS WORK

    The present article provides critical analysis of the existing practice for carrying out of stress-test in the banking sector in our country and abroad. It provides good grounds for accentuating on a number of unsolved or discussion issues, concerning: significance of the stress-tests; scope and periodicity of their implementation; identification ...

  • REASONS FOR THE CHANGES IN THE VOLUME AND QUALITY OF INDIVIDUAL CUSTOMERS' LOANS PROVIDED BY COMMERCIAL BANKS IN BULGARIA

    The high credit activities of commercial banks in Bulgaria as regards citizens and households just before the consequences of the global economic crisis, as well as the efforts of local people to maintain a quality standard of living, are the main reasons which increase the burden of individual customers’ loans in the loan portfolio of bank ...

  • RISK ASSESSMENT TOOLS FOR INVESTMENT SELECTION – THEORY AND PRACTICE

    The paper reviews risk assessment for selection of investments in terms of em-pirical derivation and estimation of beta coefficients on the capital market in Bulgaria. It aims to develop some theoretical aspects regarding risk assessment for investment se-lection as well as to provide empirical derivation and trend analysis of the beta ...