 The behavior of the Bucharest Stock Exchange during the current financial markets crisis and proposed measures for its sustainable developmentIulian Panait () and Iulia Lupu No 2009/101, Papers from Osterreichish-Rumanischer Akademischer Verein Abstract: Our day to day study of the Romanian stock market during the period July 2007 – September 2009 revealed in many cases a specific behavior. Although all the emerging markets from the region evolved in correlation with the more established exchanges, the negative impact of the crisis on our exchange was in many aspects deeper and more powerful than it should have been if we look at the actual macro and micro economic situation, considering the empirical evidence that the capital market is positively correlated with the long term economic growth. We think that this overreaction to the negative side is the direct result of the lack of maturity of our local exchange (in terms of capitalization, liquidity, participants, legislation and surveillance) and we propose a few measures that are supposed to render a sustainable development and may improve its stability during times of financial turbulences. Paper: Keywords: contagion; correlation; financial crisis; emerging capital markets (search for similar items in EconPapers) There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it. Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ris:sphedp:2009_101 Access Statistics for this paper More papers in Papers from Osterreichish-Rumanischer Akademischer Verein Kuhn Platz 6 Wien. Contact information at EDIRC. |
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