Milunovich, George; Minovi, Jelena; cacute - In: Applied Economics 46 (2014) 31, pp. 3861-3873
We study market illiquidity across 11 national markets of the Balkans. In general, the EU member countries are more liquid than the nonmember countries. Turkey, however, has the most liquid market, while Serbia and Bosnia are the least liquid. Global illiquidity sourced from the US has a strong...