THE IMPACT OF THE GLOBAL FINANCIAL CRISIS ON A EUROPEAN FRONTIER MARKET: THE CASE OF BUCHAREST STOCK EXCHANGE

Cornelia Pop and Iustin Pop ()
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Cornelia Pop: Faculty of Business, Babes-Bolyai University, Cluj-Napoca, Romania
Iustin Pop: Faculty of Business, Babes-Bolyai University, Cluj-Napoca, Romania

HOLISTICA Journal of Business and Public Administration, 2012, vol. 3, issue 2, 18-49

Abstract: The present paper tries to highligh the impact of the 2007-2009 global financial crisis on the Bucharest Stock Exchange. Bucharest Stock Exchange is a small frontier domestic capital market wich suffered a sever impact of the 2007-2009 global financial crisis in absolute values, similar with the impact of the 1997-1998 Asian crisis. While the Bucharest Stock Exchange tried to diversify its activity in the post- crisis period, a second wave of negative influences hit the market when the problems regarding sovereign debt of several EU member states surfaced in mid-2010. Bucharest Stock Exchange authorities should asses the institution's position within the CEE region and establish a strategy for afurther sustainable development which must combine, if possible, the advantages of an increased international exposure and the presence of international investors, with the core services a domestic capital market should offer in order to support the country's economic development.

Keywords: crisis; frontier market; Romania (search for similar items in EconPapers)
JEL-codes: G19 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:urn:urnste:v:3:y:2012:i:2:p:18-49

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