THE EFFECTS OF FINANCIAL GLOBALIZATION ON DEVELOPMENT OF CAPITAL MARKET OF REPUBLIC OF SRPSKA

Univerzitet u Istočnom Sarajevu, Saobraćajni fakultet, Doboj, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina

Univerzitet u Istočnom Sarajevu, Fakultet poslovne ekonomije Bijelјina, Bijelјina, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina

Univerzitet u Istočnom Sarajevu, Saobraćajni fakultet, Doboj, Republika Srpska, Bosna i Hercegovina
Bosnia and Herzegovina


Abstract

In the early seventies of the 20th century there were significant changes in the international financial scene which were reflected in leaving the gold standard and the convertibility of the US dollar into gold. During the seventies it influenced the new financial instruments and financial derivatives to appear on the international foreign exchange and financial markets. They had a far-reaching impact on the efficiency of the country’s economic politics. Financial liberalization and globalization, followed by a process of transition, influenced the development of financial markets in countries in transition, including Bosnia and Herzegovina with its two entities (Republic of Srpska and Federation of B&H). Global financial processes have led to changes in the financial market and capital market of the Republic of Srpska. The subject of this paper is the capital market of the Republic of Srpska with its all characteristics and securities traded on it, while the research priority is focused on analyzing and determining the impact of the financial globalization on trading securities in the context of the development of the capital market of the Republic of Srpska.

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References


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