The Necessity of the European Capital Markets Development in the Current Economic Environment

ªargu Alina Camelia (), Chirleºan Dan () and Potlog Dorian ()
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ªargu Alina Camelia: „Alexandru Ioan Cuza” University Iasi, Doctoral School of Economics
Chirleºan Dan: „Alexandru Ioan Cuza” University Iasi, Romania Faculty of Economics and Business Administration
Potlog Dorian: „Alexandru Ioan Cuza” University Iasi, Doctoral School of Economics
Authors registered in the RePEc Author Service: Alina Camelia SARGU

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 1, 2027-2034

Abstract: The capital market plays an important role in every modern economy, regarding both, its current state and its sustainable development. The aim of this paper is to present the main role of the capital market on all of the three levels on which they appear (the macroeconomic level, the microeconomic level and the individual level), using a comparative analysis between the European capital markets and the American ones, in order to highlight the necessity of their development. Also, the paper analyses the growing importance of the capital market in the process of financing the economy, which has become an important and essential part of any long term sustainable development strategy employed by any modern state.

Keywords: capital market; sustainable development; systemic risk; modern economy. (search for similar items in EconPapers)
JEL-codes: E44 G11 G14 O42 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:11:y:2011:i:1:p:2027-2034

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