TIRANA STOCK EXCHANGE
Will its development promote economic growth?
Era Halili
Abstract:
Few people know about the existence of "Tirana Stock Exchange”, and even fewer know how it functions or why was it created. For years the stock exchange markets throughout the world have evolved by becoming to this day one of the most important factor on which the economy depends. The results of the functioning of these markets are even more obvious nowadays. The purpose of our study is to explore the possible advantages and disadvantages of the development of this entity, whose purpose even if not well-known cannot be denied. Based on actual evidence and relevant data, we want to explore whether the development of "Tirana Stock exchange” can effect the Albanian economy, and if so, in what way can we expect the change to happen and what might the possible costs and benefits of implementing a strategy for "Tirana's Stock exchange” development be.
Key words: Stock exchange market, economic growth, capital
I. Introduction
Nobody can deny the role of stock exchange markets, especially in today's economy. This is not just my opinion, but a fact observed in the entire world. The most developed economies now have some of the most developed stock exchange markets in the world. The perfect example for this is the USA, which has the most developed stock exchange market, The New York Stock Exchange (NYSE). America is the biggest economic power in the world currently, and one of the main factors that have helped in this development is the NYSE. Everyone is well aware of the role that this important entity plays in the American economy. This paper is mainly based in identifying whether the Tirana Stock Exchange (TSE) can bring an equal development to Albania, or at least if it can boost the development of the Albanian economy. Firstly we will discuss about the roles that a stock exchange market has in an economy, then we will discuss about the...