The Cultural Behaviour of the Public Towards Capital Markets in a Small Economy

Prof. Artan Gjergji, Lecturer at the Economic Department at University College Wisdom of Tirana (Albania), participated in the Learning Mobility in Covilhã at UBI University (Portugal) in November 2019. In that occasion he gave an interesting speech on "The Cultural Behavior of the Public Towards Capital Markets in a Small Economy".

Here below the report of his experience and the presentation for the CSB project.

During November 2019, together with many colleagues of the partner universities from Albania, North Macedonia, Croatia, Italy, Portugal and Lithuania, I had the chance to participate in the interchanging experience activity at the University of Beira Interior (UBI), in Covilha, Portugal. During this one week period of time, we had the chance to follow a very comprehensive program harmonized with both: the academic activities at the university and other socio-economic activities with many actors of the province including businesses, local authorities etc.

During the academic program we had the chance to meet the various instances and academic bodies of the UBI, getting detailed information on the many academic and bureaucratic processes from the university management point of view, as well as in terms of academic career. It was amazing to understand the huge work done by the Rectorate and university administration in full cooperation with local authorities to convince the Portuguese government to financially support the UBI University, looking forward to making it as the heart of a socio-economic system to bring development in a province where there is not much industrial work. During this program we saw the success of this cooperation, because the university has become the heartbeat not only of the town, but also of the whole province, bringing more people from the urban areas, as well as succeeding to attract the attention of even foreign students coming from Portuguese speaking lads.

I had the honour to teach the lecture with the topic “The Cultural Behaviour of Public and Corporate towards Capital Markets in Small Countries” explaining in detail to UBI University students the experience of Albania, a Country considered as small as Albania. Students were very interested in the fact that, despite the similarity of the Country's size, the perceptions and behaviours of market operators and citizens are different from one to another due to the recent historical past. Albania is still a Nation coming out of a dictatorship communism regime. In a country with relatively young democratic history, like Albania is, the free market economy follows a slower pace, mainly due to the fragile independent institutions and a weak rule of law.

Last but not least, the program was enriched with many socio-economic activities trying to introduce the academic visitors from the partner universities with the Portuguese history, traditions, customs ethnography and culinary.

My speech represented a very actual point of view connecting what happens in the financial business connected with cultural aspects related of the nowadays society and changing worldwide market.