Traders could be buying and selling shares on a Welsh stock exchange
A research project to investigate creating a Welsh stock market has been backed by the assembly government.
Almost £13,000 will be provided for the work to see whether companies in Wales support the idea.
It is one of five grants worth some £67,000 from the assembly government to widen knowledge of the Welsh economy.
The man behind the scheme, Professor Robert Huggins, said smaller regional economies could benefit from a stock market which is not based in London.
First Minister Rhodri Morgan said the research projects could fill important gaps in Wales' knowledge base.
Prof Huggins, of the University of Wales Institute Cardiff (Uwic), said it could be cheaper for companies to be listed on a Welsh stock exchange than on a London exchange.
"At the moment floating on the Alternative Investment Market is very expensive maybe there is the possibility of producing something more cost-effective," he said.
"We need a lot more financial services in Wales and something like a stock exchange will form part of the natural infra-structure."
The grants were established on the recommendation of the assembly government's economic "think-tank" the Economic Research Advisory Panel.