The Chapter discusses the need for the creation of a single European Capital Markets Union (CMU). Comparative data and arguments are presented, supporting the thesis that the financing of the European economy is too dependent on the banking system and there is a need to increase the share of...

A mass privatization program has been developed and executed in Bulgaria during the period 1995-1998. The study examines the creation of the institutions needed to ensure an effective capital market and mechanisms for stockholder control over the direction of the private enterprises which have...