Economics at your fingertips  


Ani Stoitsova-Stoykova ()
Additional contact information
Ani Stoitsova-Stoykova: South-West University "Neofit Rilski", Bulgaria

Economics and Management, 2017, vol. 13, issue 1, 38-54

Abstract: This study uses correlation analysis to estimate the linkages between the capital markets of Bulgaria, Croatia, Greece, Slovenia, Turkey, Romania, Macedonia, Serbia, Montenegro, Banja Luka and Sarajevo (Bosnia and Herzegovina) during the period 2005-2015 with the accent on the division between the developed and developing markets. The results reveal that there is a weak or moderate positive correlation between the developed capital markets of Turkey, Greece and Croatia and the other examined markets. The results show that strength of co-movement between Bulgarian stock market and the rest markets in Southeast Europe (SEE) is strong, especially with Serbian, Romanian and Croatian markets. All things considered, it seems reasonable to assume that there is a strong correlation between SEE capital markets. What is more, the degree of the development of the SEE capital markets determines the linkages between them, while the developed markets are with weaker correlation in the group than the developing markets.

Keywords: Capital markets; correlation analysis; South East Europe. (search for similar items in EconPapers)
JEL-codes: C32 E27 G15 (search for similar items in EconPapers)
Date: 2017
References: Add references at CitEc
Citations Track citations by RSS feed

Downloads: (external link) ... oitsova-Stoykova.pdf (application/pdf) ... d=28:2017&Itemid=116 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

More articles in Economics and Management from Faculty of Economics, SOUTH-WEST UNIVERSITY "NEOFIT RILSKI", BLAGOEVGRAD Contact information at EDIRC.
Series data maintained by Vladislav Krustev ().

Page updated 2017-09-29
Handle: RePEc:neo:journl:v:13:y:2017:i:1:p:38-54