This paper discusses the most important theoretical contributions to the literature on privatization, focusing on emerging economies, and gives a summary on recent research concerning the ways privatization might affect the development of securities markets. In addition, the paper provides a...

In this paper we use empirical cross-country correlation coefficients of GDP- and private consumption data as a measure of financial integration between the current EU-member states and the central and eastern European accession states. We find, that the so-called consumption correlation puzzle...