Rolul politicilor promovate de stat în direcționarea vectorului de dezvoltare al pieței valorilor mobiliare din Republica Moldova

Abstract

The securities market is one of the main financial market’s segments, which trough its tools contributes to the national economy financing – trading emission shares, company bonds etc. Meanwhile, this market is the development reflection, in general, of the national economy; it is a long process and very difficult for states with an economy in transition, as is the Republic of Moldova case. In this article, as a result of a detailed research of the politics dynamic of the settlement, control and supervising state authorities during the last 20 years, we will analyze their effects and the degree of influence upon future development direction of this market. The absence of an established trend of the most relevant indicators development of securities market, impose the research of the politics promoted by the State in special of the securities market field, and in general of the financial market. This research is very important in the context of running process of adjusting the national legislation to the international standards, the necessity to revise the principles of securities market functioning in the meaning to improve their activity. The formulated conclusions and proposed recommendations will highlight the weak and strong sides of the state politics in the securities market from Republic of Moldova.