Description: Development of Non-bank Financial Institutions and Capital Markets in European Union Accession Countries

Development of Non-bank Financial Institutions and Capital Markets in European Union Accession Countries

This paper assesses the role of non-bank financial institutions and capital markets in the financial sectors of the eight first-wave of Eastern European EU accession countries (the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovak...

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Bibliographic Details
Main Authors:	Bakker, Marie-Renée, Gross, Alexandra
Language:	English en_US
Published:	Washington, DC: World Bank 2013
Subjects:	FINANCIAL INSTITUTIONS CAPITAL MARKETS BANKING SYSTEM INSURANCE PENSION FUND MUTUAL FUNDS LEASING FACTORING FACILITIES VENTURE CAPITAL PROGRAMS EQUITY MARKETS INTEGRATION FIXED INCOME MARKETS FINANCIAL SECTOR ASSETS PRIVATE PENSION FUNDS MUTUAL FUND SCHEMES FINANCIAL SYSTEMS INSURANCE COMPANIES STOCK MARKET TRANSACTIONS ACCOUNTING AUDITING BANK CREDIT BANK DEPOSITS BANK FOR INTERNATIONAL SETTLEMENTS BANK RESTRUCTURING BANKING SECTOR BANKING SYSTEMS BANKRUPTCY BOND MARKETS CAPITALIZATION CENTRAL BANKS CONSOLIDATION CONSUMER PROTECTION DEPOSITS ECONOMIC GROWTH ECONOMIC PERFORMANCE EQUITY INVESTMENTS EQUITY MARKETS EU EUROPEAN CENTRAL BANK FACTORING FINANCIAL ASSETS FINANCIAL INTERMEDIATION FINANCIAL MARKETS FINANCIAL REPORTING FINANCIAL SERVICES GDP GOVERNMENT BONDS GROSS DOMESTIC PRODUCT GROWTH POTENTIAL INCOME INCOME LEVELS INSURANCE INDUSTRY INSURANCE MARKETS INSURANCE PREMIUMS INSURERS INTEREST RATES INTERNATIONAL ACCOUNTING STANDARDS LAWS LEGAL STATUS LIFE INSURANCE LIFE INSURANCE COMPANIES MACROECONOMIC STABILITY MERGERS MONOPOLIES MORTGAGE LOANS MORTGAGE MARKETS MUTUAL FUND NON-LIFE INSURANCE OFFERINGS PENSION FUND MANAGEMENT PENSION FUNDS PENSION SCHEMES PER CAPITA INCOME PER CAPITA INCOMES PRIVATIZATION PROBLEM BANKS PROFITABILITY PROPERTY INSURANCE PUBLIC DEBT REINSURANCE REINSURANCE MARKETS RETIREMENT RISK MANAGEMENT RISK UNDERWRITING SAVINGS SAVINGS INSTITUTIONS SAVINGS SCHEMES SECURITIES SECURITIES EXCHANGES SOCIAL SECURITY SOCIAL SECURITY SYSTEMS SUBSIDIARIES SYSTEMIC RISK TRUSTS UNEMPLOYMENT UNIVERSAL BANKING VENTURE CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/2004/02/3101148/development-non-bank-financial-institutions-capital-markets-european-union-accession-countries http://hdl.handle.net/10986/15030

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Summary:	This paper assesses the role of non-bank financial institutions and capital markets in the financial sectors of the eight first-wave of Eastern European EU accession countries (the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovakia, and Slovenia), the current state of development and prospects for future growth, and the likely impact on these segments of the financial system of accession to the EU. Throughout the paper, the level of development of nonblank financial institutions and capital markets in the accession countries is benchmarked against comparable development levels seen in existing EU member states. The paper concludes with a series of policy recommendations to facilitate future development of non-bank forms of financial intermediation.

Development of Non-bank Financial Institutions and Capital Markets in European Union Accession Countries

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