The financial markets of the 10 EU Accession countries are generally under-developed but their ongoing integration with the larger EU markets should prove a strong positive
Financial markets in the 10 Accession countries (AC10) are generally far less developed than in the current 15 EU member states. It is not expected local markets will grow rapidly. Rather, returns to scale suggest a continued integration of the AC10 asset and banking markets with the larger EU markets. The adoption of EU regulations and corporate governance standards as well as the eventual introduction of the euro will enhance this integration with the bigger markets. Local market growth is more likely on the bond than on the equity side. As regards to returns on assets, the AC10 market...
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