The sub-sovereign finance importance for emerging and frontier markets is constantly growing since the beginning of 21st century. The change in regulations governing Romanian municipalities source of financing in 1998, allowed local governments to access alternative financing sources, mainly for...

The re-opening of Bucharest Stock Exchange in November 1995 and the start of RASDAQ in October/November 1996 were both prompted by the Mass Privatization Program results. RASDAQ was established as an alternative equity exchange where the bulk of the 6,000 privatized companies should be listed,...

The present paper aims to present the level of development reached by Romanian government bond market segment, as part of the country financial market. The analysis will be descriptive (the data series available for Romania are short), based on the secondary data offered by the official bodies...