Use this URL to cite or link to this record in EThOS: https://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.757588
Title: Developing stock markets in transition economies
Author: Harrison, B.
ISNI:       0000 0004 7430 4058
Awarding Body: Nottingham Trent University
Current Institution: Nottingham Trent University
Date of Award: 2016
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Abstract:
In 1991, the Communist Government of the USSR was voted out of existence and this formally brought to an end in Central and Eastern Europe, as well as in other countries, to a failed political ideology that had endured for more than seventy years with massive implications for control and allocation of economic resources. The term 'transition economy' was coined to describe the economies of those countries that that were propelled as a consequence of this, into a process of transition from planned (or socialist) economy to a market-based economy. The implications of this were far reaching and as private property was reintroduced, stock markets had to be established so that equity could be traded in newly created privately owned bodies corporate. This posed enormous problems, not least because new generations, unaccustomed to the operation of capital markets, had grown up under socialism and viewed the newly created stock markets with suspicion and caution. One of the major challenges in the transition economies was therefore to educate investors and to explain to nature of risk capital. However, efforts to educate investors were somewhat confounded because, coupled with the absence of understanding, there was an absence of reliable information about the companies traded on the stock market and lack of trust in the operation of the market itself. In this thesis, we investigate the emergence and development of stock markets in ten Central and East European countries (Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia). As well as surveying their development we test whether the function efficiently and whether they are sufficiently development so as to exhibit comovement with the world's major stock markets.
Supervisor: Not available Sponsor: Not available
Qualification Name: Thesis (Ph.D.) Qualification Level: Doctoral
EThOS ID: uk.bl.ethos.757588  DOI: Not available
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