Download or read book The Determinants of Stock Market Development in Emerging Economies written by Charles Amo Yartey and published by International Monetary Fund. This book was released on 2008-02 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the institutional and macroeconomic determinants of stock market development using a panel data of 42 emerging economies for the period 1990 to 2004. The paper finds that macroeconomic factors such as income level, gross domestic investment, banking sector development, private capital flows, and stock market liquidity are important determinants of stock market development in emerging market countries. The results also show that political risk, law and order, and bureaucratic quality are important determinants of stock market development because they enhance the viability of external finance. This result suggests that the resolution of political risk can be an important factor in the development of emerging stock markets. The analysis also shows the factors identified above as determining stock market development in emerging economies can also explain the development of the stock market in South Africa.
Download or read book Macroeconomic Determinants of Stock Market Development in Emerging Economies written by Evgeniya E. Petrova and published by . This book was released on 2006 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic Determinants of Stock Market Development written by Valeriano F. Garcia and published by . This book was released on 2004 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using pooled data from fifteen industrial and developing countries from 1980 to 1995, this paper examines the macroeconomic determinants of stock market development, particularly market capitalization. The paper finds that: (1) real income, saving rate, financial intermediary development, and stock market liquidity are important determinants of stock market capitalization; (2) macroeconomic volatility does not prove significant; and (3) stock market development and financial intermediary development are complements instead of substitutes.
Download or read book The Determinants of Stock Market Development in the MENA Region written by Sami Ben Naceur and published by . This book was released on 2005 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since few decades, a wide theoretical debate is concerned with the fundamental relationship between financial development and economic growth. An efficient financial system leads to a sustainable economic growth. In this study, we are interested especially with stock markets as a main component of the financial system according to the increasing role of financial markets in economies. So, their evolution plays an important role in economic growth. We shed some light on the macroeconomic determinants which must have an important influence on stock markets development. It is recognized that real or financial variables such as real income, saving rate, credit to private sector, M3, value traded, turnover, etc. could have a significant impact on market capitalization. The empirical study is conducted using an unbalanced panel data from twelve MENA region countries. Econometric issues are based on estimation of some fixed and random effects specifications. With such specifications in mind, peculiarities of MENA region countries are detected as well as differentiations among them. Thus, differences in market capitalization are explained. The empirical expected results must reinforce the idea which suggest the important role of economic development in promoting stock market development. Explaining power of variables such as real income, saving rate, inflation, financial intermediary development and stock market liquidity is confirmed. Banks and stock markets seem to be complements instead of substitutes.
Download or read book The Macroeconomic Determinants of Stock Market Development in Panama and Costa Rica written by 葛荷麗 and published by . This book was released on 2012 with total page 73 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic Determinants and Stock Market written by and published by . This book was released on 2020 with total page 303 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic Determinants of Stock Market Behavior written by Aksinya Sorokina and published by . This book was released on 2016 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: The stock market plays an important role in the national economies, stimulating savings and reallocating assets. The impact of economic activities on the stock market could be deterministic for investors behavior. The present study analyses the influence of macroeconomic variables such as Industrial Production Index, Consumer Price Index, Commodities Price Index, Producer Price Index, Money Supply, Interest Rate, Exchange Rate, Net Export on the stock markets of four countries forming BRIC block: Brazil, Russia, India, China.
Download or read book Business Economics Financial Sciences and Management written by Min Zhu and published by Springer Science & Business Media. This book was released on 2012-02-11 with total page 860 pages. Available in PDF, EPUB and Kindle. Book excerpt: A series of papers on business, economics, and financial sciences, management selected from International Conference on Business, Economics, and Financial Sciences, Management are included in this volume. Management in all business and organizational activities is the act of getting people together to accomplish desired goals and objectives using available resources efficiently and effectively. Management comprises planning, organizing, staffing, leading or directing, and controlling an organization (a group of one or more people or entities) or effort for the purpose of accomplishing a goal. Resourcing encompasses the deployment and manipulation of human resources, financial resources, technological resources and natural resources. The proceedings of BEFM2011 focuses on the various aspects of advances in Business, Economics, and Financial Sciences, Management and provides a chance for academic and industry professionals to discuss recent progress in the area of Business, Economics, and Financial Sciences, Management. It is hoped that the present book will be useful to experts and professors, both specialists and graduate students in the related fields.
Download or read book stock market development and long run growth written by Ross Levine and published by World Bank Publications. This book was released on 1996 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants of Financial Development written by Y. Huang and published by Springer. This book was released on 2010-11-24 with total page 233 pages. Available in PDF, EPUB and Kindle. Book excerpt: A PDF version of this book is available for free in open access via the OAPEN Library platform, www.oapen.org. This book examines the emergence of both financial markets and carbon markets, and provides an in-depth investigation on the fundamental determinants of financial development.
Download or read book What Drives Stock Market Development in the Middle East and Central Asia Institutions Remittances Or Natural Resources written by Andreas Billmeier and published by International Monetary Fund. This book was released on 2007-07 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we assess the macroeconomic determinants of stock market capitalization in a panel of 17 countries in the Middle East and Central Asia, including both hydrocarbon-rich countries and economies without sizeable natural resource wealth. In addition to traditional variables, we include an institutional variable and remittances among the regressors. We find that (i) both institutions and remittances have a positive and significant impact on market capitalization; and (ii) both regressors matter, especially in countries without significant hydrocarbon sectors; whereas (iii) in resource-rich countries, stock market capitalization is mainly driven by the oil price.
Download or read book Capital Markets Development in Emerging Economies written by Samuel Onyuma and published by LAP Lambert Academic Publishing. This book was released on 2012 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite the many efforts undertaken to foster financial development, capital markets in many developing economies remain underdeveloped. These reforms have not catapult the development of these markets to global standards. New stock exchanges are being created every year in Africa, but these markets remain shallow in listing and liquidity, with high volatility. Thus policymakers have no clear guidance on how to promote securities market development. Scholars are also widely divided on measures of market development, as well as, the factors which influence the level of market development. These issues are even more aggravated given the poor understanding of securities markets in developing countries. This book examines the institutional, market microstructural and macroeconomic determinants of securities market development in Kenya. Finance scholars interested in studying securities market development will find it a useful learning and research reference material. Capital markets regulators and management interested in developing their markets will also find the book important in designing reform prescriptions targeted at promoting market development.
Download or read book International Macroeconomics in the Wake of the Global Financial Crisis written by Laurent Ferrara and published by Springer. This book was released on 2018-06-13 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Download or read book Macroeconomic Determinants of Stock Market Liquidity written by Ijaz Ur Rehman and published by . This book was released on 2016 with total page 374 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic Determinants of Stock market Returns Volatility and Volatility Risk premia written by Valentina Corradi and published by . This book was released on 2008 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Development of Local Capital Markets written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2014-12-19 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: Capital markets can improve risk sharing and the efficiency with which capital is allocated to the real economy, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital markets. Moreover, government-led initiatives to develop local capital markets have had mixed success. This paper reviews the literature on the benefits and costs of developing local capital markets, and describes the challenges faced in the development of such markets. The paper concludes with a set of policy recommendations emerging from this literature.
Download or read book Stock Markets written by Filippo Petroni and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much effort has gone into the study of financial markets and how prices vary with time. The usual approach of random walk is known to be inadequate to fully describe price dynamics. In this book, many different approaches are provided that use alternative and more adequate models. This book also examines the renewal theory in actuarial science. A simple actuarial model can be simulated well by means of this kind of stochastic process. A method dealing with the numerical solution of the renewal equation is presented. In addition, based on a theoretical model for opinion spreading on a network, through avalanches, the effect of external field is now considered, by using methods from non-equilibrium statistical mechanics. Furthermore, it is evident that the 2008-US sub-prime mortgage crisis broadly affected international financial markets. The crisiss magnitude impacted on Asian financial markets has not had much attention. To fill this gap, the authors examine changes in dependence structures between the US market and Asian financial markets before and after the crisis.The effect of optimal fiscal rules within a stochastic model of Keynesian type in the context of Poole (1970) analysis is derived. The authors extend the original Poole results concerning the output stabilisation properties of monetary policy to the case of fiscal policy. Different stochastic models based on a semi-Markov chains approach are used to study the high frequency price dynamics of traded stocks. The authors show that the models are able to reproduce important stylised facts of financial time series as the persistence of volatility. Finally, a new multi-agent model of the stock market is formulated that contains four states in which the agents may be located.
