Financial Market in Latvia

2/2002

Abstract
During the last decade Latvia made a considerable progress and has created an institutional structure and legislative framework to support a market-oriented financial system. The financial sector of Latvia comprises nearly all financial institutions typical of developed markets. The regulatory enactments of Latvia conform to all EU requirements and in some respects are even stricter. Latvia's accession to the EU will be an important turning point for the country's economy, including the financial market, and will provide higher income and wider opportunities.

Key words: financial market, settlement systems, European integration

JEL classification codes: G10, G20