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Europe > Slovenia, Republic of

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Cover IMF Working Papers
Capital Market Development in a Small Country: The Case of Slovenia
Mr. Jochen R. Andritzky
Small emerging economies, despite their significant growth, lack the scale to develop thriving capital markets from their local investor and issuer base that are able to deliver the benefits of a large, mature market. Slovenia is such an example. Despite the necessary infrastructure in place, trading has remained thin and issuance activity has been dormant. This paper proposes a two-pronged strategy for capital market development that leverages the existing setup in the context of regional integration such as within the EU. While using the case of Slovenia, this path might be indicative for other small countries that are part of a larger economically integrated region.
Keywords:
WP; financial market; capital market development; government bond; market participant; cross-market surveillance
Cover IMF Staff Country Reports
Republic of Slovenia: Selected Issues
International Monetary Fund
This Selected Issues paper analyzes the challenges that the Republic of Slovenia will face in the coming years. It examines the efficiency of the Slovene banking sector in the European Union context. The paper analyzes indicators of bank efficiency by comparing performance indicators for banks in Slovenia, the European Monetary Union, and new member states. It presents results from cross-country econometric estimates of banking sector cost efficiency. The paper also discusses results from estimates of cross-country banking sector contestability, and the determinants of efficiency and contestability.
Keywords:
ISCR; CR; Slovene bank; bank; chapter IV; bank efficiency; expenditure reform; chapter III; Capital markets; Stock markets; Fiscal rules; Europe
Cover IMF Working Papers
Do Asset Prices in Transition Countries Contain Information About Future Economic Activity?
Mr. Torsten M Sloek
and
Mr. Peter F. Christoffersen
There is ample empirical evidence for developed economies that asset prices contain information about future economic developments. But is this also the case in transition economies? Using a panel of monthly data for the Czech Republic, Hungary, Poland, Russia, Slovakia, and Slovenia for the period 1994-1999 it is shown that historical values for interest rates, exchange rates, and stock prices signal future movements in real economic activity. This result has significant implications for policymakers, and a composite leading indicator based on the three asset prices is presented, which contains information about the future development of economic activity.
Keywords:
WP; asset price; asset; price; Asset prices in transition countries; Leading indicator analysis; Tracking portfolio; way asset market; transition economy; asset return; market infrastructure; IP terms; leading indicator properties; asset prices in transition economy; current asset; market efficiency; market instrument; Industrial production; Asset prices; Cyclical indicators; Stocks; Stock markets; Eastern Europe