Capital Markets and Financial Intermediation in the Baltic States

International Monetary Fund

No 2003/115, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper analyzes the capital markets and financial intermediation in the Baltic States. It provides a comprehensive overview of the structure and level of development of the financial system, discussing some of the unique characteristics of the Baltics, such as leasing; and comparing the structure of the Baltic financial systems to other European Union accession countries and/or euro zone averages, both of which serve as benchmarks. The paper also addresses some of the broader analytical questions concerning how the financial system might be developed in the Baltics.

Keywords: ISCR; CR; parent company; parent bank; bank ownership; foreign currency; bank financing; credit crunch; venture capital; banking sector; central bank; economic activity; yield curve; secondary market; private sector; market capitalization; exchange rate; Capital markets; Securities markets; Stock markets; Commercial banks; Financial sector development; Baltics (search for similar items in EconPapers)
Pages: 53
Date: 2003-04-28
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