Abstract
The purpose of this study is to emphasize the main aspects regarding the establishment, development and evolution of the capital market in Romania. This study tries to present the main milestones which marked the evolution of the national capital market from the beginning until now. Even if the first Romanian stock exchange was established in 1881, the modern capital market in Romania is a relatively young, which began to function with the reestablishment of Bucharest Stock Exchange in 1995. The capital market in Romania has a great potential of development. Statistical data presented in this paper, regarding the evolution and the development of the capital market in Romania, emphasizes that this market was and is strongly linked to developments in the real economy.
Highlights
Even though the first stock exchange was established in 1881, the modern capital market in Romania is a relatively young market, which began to work with the reestablishment of Bucharest Stock Exchange in 1995
The Romanian capital market has considerably grown in the last years
If the start was quite difficult, since 2001, the capital market has had an upward trend until the onset of economic and financial crisis in 2008
Summary
The evolution of the capital market in Romania by the end of the World War II was heavily influenced by major events that occurred during that period (Romania's participation at the two world wars, the economic crisis of 1929-1933, etc.). During this period, the best results of the Bucharest Stock Exchange were recorded in 1939. With regard to the performance of the Bucharest Stock Exchange, we can say that after a very good start, with a maximum of traded securities and of stock values recorded in 1997, followed a major decline, until the end of the year 2000.
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