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Lessons and Impressions of the Czech Capital Markets
Technical rept. Jan-Mar 2011
MILITARY ACADEMY WEST POINT NY NETWORK SCIENCE CENTER (NSC)
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As part of the Network Science Centers Frontier Markets research project, which is developing methodologies to classify Capital Market networks, a research team consisting of two researchers and three cadets from the Network Science Center visited the Czech Republic from 12-19 March, 2011. The purpose of the trip was to conduct research on the capital market network in Prague validate the initial network results and identify individuals, organizations, and roles that should be incorporated into subsequent network typologies. The team has developed network models of three Frontier Markets Tanzania, Ghana, and Trinidad and Tobago. One of the teams research goals is to construct a quantitative vertical comparison between our Frontier Markets and an Emerging Market. We selected the Czech Republic as the Emerging Market because they liberalized their markets and privatized many government-owned industries at approximately the same time as Tanzania and Ghana. Prior to the trip, the team built a social network model of the Czech Capital Markets using mainly information about firms, companies, and organizations that is readily available on the Internet. The team initially analyzed the stock exchange and its leadership as well as the major brokers that operate on the exchange. Then they examined the government organizations that influence and regulate the Capital Market. After developing the initial model, the team conducted a network analysis and identified key people and organizations in the network. They then contacted these individuals and organizations to interview them, and eventually, refine the initial network model. During these meetings, the team also conducted surveys to gather information about the Social Capital available to each of the interview subjects as well as some of their colleagues.
APPROVED FOR PUBLIC RELEASE