Determinants of Mutual Fund Industry Development in Countries of Central and Eastern Europe
Determinants of Mutual Fund Industry Development in Countries of Central and Eastern Europe

Author(s): Oldřich Rejnuš, Oleksandra Lemeshko
Subject(s): Micro-Economics, Governance, Evaluation research, Economic development, Financial Markets
Published by: Masarykova univerzita nakladatelství
Keywords: determinants; economic and financial system development; governance;
Summary/Abstract: The rapid growth and development of mutual fund industry throughout the world stimulated vast contemporary studies focusing on wide range of issues predominantly of microeconomic character, such as fund performance, timing ability, fees and fund flows, thus leaving determinants and attributes of mutual fund industry development beyond their research. The rare relevant studies predict that development of mutual fund industry depends on a number of factors among which the predominant role belongs to development of economic and financial system, and quality of governanc eand regulatory basis. One essential condition of validity of this prediction is that it isbased upon a sample of developed economies, thus leaving a space for the likelyhood that under condition of developing or middle-income economies some expectations may substantially deviate from the predication.

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