This study discusses the strategic priorities and challenges for securities exchanges in new EU member states, with a special reference to the internationalisation of securities markets. The ways in which exchanges are responding to such challenges and other possible courses of action are...

We study the determinants of stock market development and the growing migration of capital raising, listing and trading activity to international exchanges. Economies with higher income per capita, sounder macro policies, more efficient legal systems with better shareholder protection, and more...

We study the determinants of stock market development and the growing migration of capital raising, listing, and trading activity to international exchanges. Economies with better fundamentals have larger and more liquid markets. As fundamentals improve, however, the degree of migration to...