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Capital Market Development in a Small Country; The Case of Slovenia

Jochen Andritzky

No 07/229, IMF Working Papers from International Monetary Fund

Abstract: Small emerging economies, despite their significant growth, lack the scale to develop thriving capital markets from their local investor and issuer base that are able to deliver the benefits of a large, mature market. Slovenia is such an example. Despite the necessary infrastructure in place, trading has remained thin and issuance activity has been dormant. This paper proposes a two-pronged strategy for capital market development that leverages the existing setup in the context of regional integration such as within the EU. While using the case of Slovenia, this path might be indicative for other small countries that are part of a larger economically integrated region.

Keywords: Capital market development; Capital markets; Financial integration; Small states; Slovenia; capital market, stock exchange, bonds, Financial Markets and the Macroeconomy, (search for similar items in EconPapers)
Pages: 24
Date: 2007-09-01
New Economics Papers: this item is included in nep-eec
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