Hidden Bibliographic Details
| Other authors / contributors: | International Monetary Fund. African Department.
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| ISBN: | 1283518325
9781283518321
1451913478
9781451913477
9781451868944
1451868944
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| Notes: | Includes bibliographical references (pages 29-31).
Restrictions unspecified
Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010.
Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212
digitized 2010 HathiTrust Digital Library committed to preserve
Print version record.
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| Summary: | 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.
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| Other form: | Print version: Yartey, Charles Amo. Determinants of stock market development in emerging economies. Washington, D.C. : International Monetary Fund, African Dept., 2008
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| Standard no.: | 10.5089/9781451913477.001
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