Development of Non-bank Financial Institutions and Capital Markets in European Union Accession Countries'Development of Non-Bank Financial Institutions and Capital Markets in European Union Accession Countries' is part of the World Bank Working Paper series. These papers are published to communicate the results of the Bank's ongoing research and to stimulate public discussion. This study assesses the role of non-bank financial institutions and capital markets in the financial sectors of the eight first wave EU accession countries (Poland, Hungary, the Czech Republic, Slovakia, Estonia, Latvia, Lithuania, and Slovenia), the current state of development and prospects for future growth, and the likely impact on these segments of the financial system of accession to the EU. Throughout the paper, the level of development of non-bank financial institutions and capital markets in the accession countries is benchmarked against comparable development levels seen in existing EU member states. It concludes with a series of policy recommendations to facilitate future development of non-bank forms of financial intermediation. |
Contents
The Importance of Nonbank Financial Institutions | 3 |
Insurance Assets as a Percentage of GDP in EU 8 Countries | 6 |
Table | 11 |
Copyright | |
6 other sections not shown
Common terms and phrases
15 Figure accession countries assets are estimated assets as percent Bank SIMA Database Bank staff estimates bankruptcy capital markets corporate bond markets corporate governance corporate sector credit information services creditor rights Czech Republic Database for GDP domestic equity markets Estonia Hungary Latvia EU 8 countries example factoring companies factoring industry Factoring Volume FEFSI financial markets financial sector Fund Assets/GDP grow rapidly growth Hungary Latvia Lithuania IFRS Institutional Investors Yearbook institutions and capital INSURANCE ASSETS insurance companies insurance sector Investment Company Institute KOSDAQ Latvia Lithuania Poland level of development levels seen Lithuania Poland Slovakia market capitalization market development Million Mutual Fund Assets non-bank financial institutions number of listed OECD OECD Institutional Investors pension assets percent of GDP PERCENTAGE Poland Slovakia Slovenia private pension funds regulatory Source stock exchanges Stock Market Capitalization Supervision supervisors Total Financial TRADED NON-PUBLIC DEBT venture capital industry venture capital investments voucher privatization World Bank SIMA