Market Efficiency in Nordic and Baltic Stock Exchanges - Final Report


Book Description

Abstract: The report on "Market efficiency in Nordic and Baltic Stock Exchanges" was presented by the Nordic Working Group for Securities Market Issues in May 2004. The report was based on a questionnaire sent to the Nordic and Baltic stock exchanges. The questionnaire consisted of specific questions about legal environment, foreign investment, competition and cooperation with other exchanges and general questions about individual markets. The focus was primarily on the stock market and to get the views of the stock exchange operators. The main views of the stock exchange operators related to the following topics: Clearing and settlement, co-operation, extensive EU regulation, taxation, legal obligations on the central securities depositaries, transparency rules and global competition. The key obsevations of the report were the following: Firstly, cross-border clearing and settlement and central counterparty clearing was raised by a number of respondents as a feature common to the relevant other securities markets but non-existent in the Nordic market. Secondly, the increasing amount of delisted companies which appears to be common in all the Nordic and Baltic countries raises concerns of the lucrativity of the stock market. Thirdly, acquiring the necessary comparative data to enable setting the Nordic and Baltic market in the global context would be useful




Bulletin


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Annual Report


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Financial Exchanges


Book Description

The recent global economic crisis has drawn a spotlight on the world of finance. Financial exchanges are changing, and this insightful, new book examines the manner and reasons for these changes. Financial Exchanges: A Comparative Approach offers an in-depth analysis of this sector. Surveying thirty different financial exchanges, including stock, derivative, commodity and offshore exchanges, this book examines the challenges they face and the ways in which they are adapting. The book includes a pertinent chapter on the dominance of derivatives, examining a number of derivative exchanges in detail. Taking in a host of international exchange powerhouses, including those in Hong Kong, Shanghai, London, New York and the Persian Gulf, this book will benefit students taking courses on financial markets and institutions, as well as professionals interested in international financial markets.




Discourse Analysis and European Union Politics


Book Description

This book reflects on the latest developments in discourse analysis in the context of EU politics research. It explores discourse analysis as a tool to study and understand EU politics, covering key conceptual, methodological and research-strategic questions. The analytical approach advanced in this book is anchored in discursive institutionalism, the newest addition to approaches in new institutionalism. The author particularly focuses on discourse as a strategic resource for political purposes, as a device for inclusion and exclusion in policy-making, and as a means of conveying and appealing to political emotions, as well as the role visual discourse and imagery play in day-to-day EU politics. Including a variety of examples using different combinations of research techniques and data material, the book also addresses issues related to the study of discursive structures and agency, discourse conflict and consensus, causality and the time dimension in discourse analysis.




Baltic Cluster Report


Book Description

This Selected Issues paper focuses on the Baltic model, Baltic–Nordic links, and convergence. The Baltic countries form a distinct group within a tightly integrated Nordic–Baltic region. They are following similar approaches to economic policy, broadly in line with those of Northern European and the Anglo-Saxon countries. Their macroeconomic policies are generally robust. The paper examines the possible causes of the creditless recoveries in the Baltic countries. It characterizes their experience in comparison with other episodes of creditless recoveries in both advanced and emerging market economies, and also investigates demand and supply constraints to credit expansion in the Baltics.







Regulation and Investments in Energy Markets


Book Description

Regulation & Investments in Energy Markets: Solutions for the Mediterranean presents the status of advancement and maturity of the Mediterranean energy policy, identifying patterns of development as well as lessons learned. Mediterranean countries are facing unprecedented challenges in the energy sector which affect the entire region. Energy policy and regulation is the key to tackling energy efficiency challenges, and providing favorable conditions for engineering infrastructures, investments, and improving security of energy supply. The assumption that the normative model, on which the EC energy policy is based, could be adopted outside EU boundaries has proven to be difficult to implement. This book looks at the Mediterranean regions search for a revised model for regulatory convergence and provides answers to those research questions, allowing the reader to understand the different technical, institutional, and financial frameworks for energy policy. - Contains a detailed overview of the specificities and institutional frameworks, giving greater clarity on existing energy practice - Provides recommendations and contributions from leading scholars and key players in energy policy research - Presents information from a region wide interdisciplinary approach based on specific industry information




Sweden


Book Description

This Technical Note discusses the findings and recommendations in the Financial Sector Assessment Program for Sweden in the areas of regulation and supervision of cross-border securities activities. The Finansinspektionen (Financial Supervisory Authority, FI) should review the consumer protection area’s activities to assess where the current consumer protection focus should be complemented with explicit consideration of financial stability risks. Improvements in data availability and better analysis tools would improve the FI’s ability to analyze risks and plan its supervisory activities. Enhancements to cross-border supervisory cooperation and active participation in the work of the European Securities and Markets Authority are also necessary complements to the FI’s current active domestic supervisory program.