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

Author/Editor:

Jochen R. Andritzky

Publication Date:

September 1, 2007

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 2007/229

Subject:

Capital markets Financial integration Securities Securities markets Stock markets

Frequency:

Quarterly

English

Publication Date:

September 1, 2007

ISBN/ISSN:

9781451867930/1018-5941

Stock No:

WPIEA2007229

Pages:

24

Please address any questions about this title to publications@imf.org