BUCHAREST STOCK EXCHANGE POSITION WITHIN THE CENTRAL AND EASTERN EUROPEAN REGION

At the end of November 2010 Bucharest Stock Exchange celebrated 15 years of contemporary/ modern history since its re-opening for activity in November 20th 1995, after it has been closed in 1948 due to the nationalization process imposed by the communist regime. After a slow start, Bucharest Stock Exchange registered and important growth between January 2003 and June 2007, and yielded spectacular results for its investors. Thus, when compared with neighboring countries, Romanian capital market ranks at the same level with Slovenia, one of the smallest country in the region. Furthermore, Romania and its capital market are included in the category of frontier markets by well known international companies like Standard & Poors’s and MSCI-Barra. Romania, along with other small countries from European Union, must face the question regarding the development direction, consolidation and integration of its capital market and should take into consideration the fact that this capital market might not necessarily be relevant in European Union context. The present paper will present Bucharest Stock Exchange evolution, asses its current position inside the country and at regional level and will try to identify its future evolution perspective, taking into account its present standing.