How Do Stock Market Development and Competitiveness Affect Equity Risk Premium? Implications from World Economies
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Levine, Ross & Zervos, Sara, 1998.
"Stock Markets, Banks, and Economic Growth,"
American Economic Review, American Economic Association, vol. 88(3), pages 537-558, June.
- Ross Levine & Sara Zervos, "undated". "Stock markets, banks and economic growth ," CERF Discussion Paper Series 95-11, Economics and Finance Section, School of Social Sciences, Brunel University.
- Levine, Ross & Zervos, Sara, 1996. "Stock markets, banks, and economic growth," Policy Research Working Paper Series 1690, The World Bank.
- Hausman, Jerry, 2015.
"Specification tests in econometrics,"
Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 38(2), pages 112-134.
- Hausman, Jerry A, 1978. "Specification Tests in Econometrics," Econometrica, Econometric Society, vol. 46(6), pages 1251-1271, November.
- J. A. Hausman, 1976. "Specification Tests in Econometrics," Working papers 185, Massachusetts Institute of Technology (MIT), Department of Economics.
- Hui-Boon Tan & Eng-Tuck Cheah & Johnnie E. V. Johnson & Ming-Chien Sung & Chong-Hin Chuah, 2012.
"Stock market capitalization and financial integration in the Asia Pacific region,"
Applied Economics, Taylor & Francis Journals, vol. 44(15), pages 1951-1961, May.
- Hui-Boon Tan & Eng Tuck Cheah & Johnnie Johnson & Ming-Chien Sung & Chong Hin Chuah, 2011. "Stock Market Capitalization and Financial Integration in the Asia Pacific Region," Post-Print hal-00684298, HAL.
- Arestis, Philip & Demetriades, Panicos O & Luintel, Kul B, 2001.
"Financial Development and Economic Growth: The Role of Stock Markets,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(1), pages 16-41, February.
- Philip Arestis & Panicos O. Demetriades & Kul B. Luintel, 1997. "Financial Development and Economic Growth: the Role of Stock Markets," Keele Department of Economics Discussion Papers (1995-2001) 97/05, Department of Economics, Keele University.
- Kamal A. El-Wassal, 2013. "The Development of Stock Markets: In Search of a Theory," International Journal of Economics and Financial Issues, Econjournals, vol. 3(3), pages 606-624.
- Grossman, Sanford J & Hart, Oliver D, 1979.
"A Theory of Competitive Equilibrium in Stock Market Economies,"
Econometrica, Econometric Society, vol. 47(2), pages 293-329, March.
- Sanford Grossman & Oliver Hart, 1978. "A theory of competitive equilibrium in stock market economies," Special Studies Papers 115, Board of Governors of the Federal Reserve System (U.S.).
- Ling Zhang & Sheng Zhang & Na Tao, 2016. "Financial System Risk Tolerance Capacity and Economic Growth: Evidence from a Cross-country Analysis," Global Economic Review, Taylor & Francis Journals, vol. 45(2), pages 97-115, June.
- Joshua S. Bahng (d'Arc) & Hyeong-Chul Jeong, 2012. "Nonlinear Behaviors in Capital Structure Decisions in Australian Firms," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 15(03), pages 1-19.
- Madhavan, Ananth, 1996.
"Security Prices and Market Transparency,"
Journal of Financial Intermediation, Elsevier, vol. 5(3), pages 255-283, July.
- Madhavan, A., 1991. "Security Prices and Market Transparency," Weiss Center Working Papers 1-92, Wharton School - Weiss Center for International Financial Research.
- Valeriano F. GarcÃa & Lin Liu, 1999. "Macroeconomic Determinants of Stock Market Development," Journal of Applied Economics, Universidad del CEMA, vol. 2, pages 29-59, May.
- Levine, Ross & Zervos, Sara, 1998.
"Capital Control Liberalization and Stock Market Development,"
World Development, Elsevier, vol. 26(7), pages 1169-1183, July.
- Ross Levine & Sara Zervos, "undated". "Capital control liberalisation and stock market development," CERF Discussion Paper Series 96-03, Economics and Finance Section, School of Social Sciences, Brunel University.
- Levine, Ross & Zervos, Sara, 1996. "Capital control liberalization and stock market development," Policy Research Working Paper Series 1622, The World Bank.
- Valeriano F. Garcia & Lin Liu, 1999. "Macroeconomic Determinants of Stock Market Development," Journal of Applied Economics, Taylor & Francis Journals, vol. 2(1), pages 29-59, May.
- Nihal Bayraktar, 2014. "Measuring relative development level of stock markets: Capacity and effort of countries," Borsa Istanbul Review, Research and Business Development Department, Borsa Istanbul, vol. 14(2), pages 74-95, June.
- Elisabeth Müller & Volker Zimmermann, 2009. "The importance of equity finance for R&D activity," Small Business Economics, Springer, vol. 33(3), pages 303-318, October.
- Charles Amo Yartey, 2008. "The Determinants of Stock Market Development in Emerging Economies: Is South Africa Different?," IMF Working Papers 2008/032, International Monetary Fund.
- Hsiao-Tien Pao & Yao-Yu Chih, 2005. "Comparison of Linear and Nonlinear Models for Panel Data Forecasting: Debt Policy in Taiwan," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 8(03), pages 525-541.
- Baetje, Fabian & Menkhoff, Lukas, 2013. "Macro determinants of U.S. stock market risk premia in bull and bear markets," Hannover Economic Papers (HEP) dp-520, Leibniz Universität Hannover, Wirtschaftswissenschaftliche Fakultät.
- Boyd, John H. & Levine, Ross & Smith, Bruce D., 2001. "The impact of inflation on financial sector performance," Journal of Monetary Economics, Elsevier, vol. 47(2), pages 221-248, April.
- Li, Kai, 2007. "The growth in equity market size and trading activity: An international study," Journal of Empirical Finance, Elsevier, vol. 14(1), pages 59-90, January.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Jeevita Matadeen, 2019. "Stock Market Development: An Assessment of its Macroeconomic and Institutional Determinants in Mauritius," International Journal of Economics and Financial Issues, Econjournals, vol. 9(4), pages 197-202.
- Ben Naceur, Samy & Ghazouani, Samir & Omran, Mohammed, 2008. "Does stock market liberalization spur financial and economic development in the MENA region?," Journal of Comparative Economics, Elsevier, vol. 36(4), pages 673-693, December.
- Billmeier, Andreas & Massa, Isabella, 2009. "What drives stock market development in emerging markets--institutions, remittances, or natural resources?," Emerging Markets Review, Elsevier, vol. 10(1), pages 23-35, March.
- Ndubuisi N. Udemezue & Catherine A. Nneli & Stephen F. Aleke & Frankine C. Okeke, 2024. "Evaluating Sustainable Relationship between Stock Market Development and Nigeria’s Economic Growth," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(1), pages 2449-2470, January.
- Emmanuel, Ongo Nkoa Bruno & Thierry, Mamadou Asngar & Christian, Atangana Zambo Charles & Ludé, Djam'Angai, 2024. "What drives financial market growth in Africa?," International Review of Financial Analysis, Elsevier, vol. 91(C).
- Missaoui, Ibtissem & Ben Rejeb, Jaleleddine & Elkhaldi, Abderrazek, 2016. "Les déterminants institutionnels et macroéconomiques du développement du marché boursier dans les pays de la région MENA [Institutional and macroeconomic determinants of stock market development in," MPRA Paper 83619, University Library of Munich, Germany.
- Md. Al-Mamun, 2013. "The Effect of Macroeconomic & Market Specific Dynamics on Stock Market Development in Global Growth Generator Countries," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 3(9), pages 1152-1169, September.
- Yilmaz Bayar, 2016. "Institutional Determinants of Stock Market Development in European Union Transition Economies," Romanian Economic Journal, Department of International Business and Economics from the Academy of Economic Studies Bucharest, vol. 19(61), pages 211-226, September.
- Parmendra Sharma & Eduardo Roca, 2011. "Reâ Designing Financial Systems: A Review of the Role of Stock Markets in Developing Economies," Discussion Papers in Finance finance:201120, Griffith University, Department of Accounting, Finance and Economics.
- Chris Doucouliagos & Jakob de Haan & Jan-Egbert Sturm, 2022.
"What drives financial development? A Meta-regression analysis [A new database of financial reforms],"
Oxford Economic Papers, Oxford University Press, vol. 74(3), pages 840-868.
- Chris Doucouliagos & Jakob de Haan & Jan-Egbert Sturm, 2020. "What Drives Financial Development? A Meta-Regression Analysis," CESifo Working Paper Series 8356, CESifo.
- Madhu Sehrawat & A.K. Giri, 2017. "A Sectoral Analysis of the Role of Stock Market Development on Economic Growth: Empirical Evidence from Indian Economy," Global Business Review, International Management Institute, vol. 18(4), pages 911-923, August.
- Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from Malaysia," MPRA Paper 77232, University Library of Munich, Germany.
- Lidiya Yemelyanova, 2021. "Relationship Between The Stock Market Development, Banking Sector Development And Economic Growth In The Cee Countries," Baltic Journal of Economic Studies, Publishing house "Baltija Publishing", vol. 7(3).
- Rudra P. Pradhan, 2018. "Development of stock market and economic growth: the G-20 evidence," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 8(2), pages 161-181, August.
- Augusto de la Torre & Juan Carlos Gozzi & Sergio L. Schmukler, 2008.
"Capital Market Development: Whither Latin America?,"
NBER Chapters, in: Financial Markets Volatility and Performance in Emerging Markets, pages 121-154,
National Bureau of Economic Research, Inc.
- de la Torre, Augusto & Gozzi, Juan Carlos & Schmukler, Sergio L., 2007. "Capital market development : whither Latin America ?," Policy Research Working Paper Series 4156, The World Bank.
- Raza, Syed Ali & Jawaid, Syed Tehseen & Afshan, Sahar, 2013. "Is Stock Market Sensitive to Foreign Capital Inflows and Economic Growth? Evidence from Pakistan," MPRA Paper 48399, University Library of Munich, Germany.
- Sin-Yu Ho, 2019. "The macroeconomic determinants of stock market development in Malaysia: an empirical analysis," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 21(2), pages 174-193.
- Ng, Adam & Ibrahim, Mansor H. & Mirakhor, Abbas, 2016. "Does trust contribute to stock market development?," Economic Modelling, Elsevier, vol. 52(PA), pages 239-250.
- Chowdhury, Md Shahedur R. & Khraiche, Maroula & Boudreau, James W., 2023. "Corruption and stock market development: Developing vs. developed economies," International Review of Financial Analysis, Elsevier, vol. 89(C).
- Naser I Abumustafa, 2016. "Investigating the Arab stock markets during Arab spring," Journal of Asset Management, Palgrave Macmillan, vol. 17(5), pages 313-318, September.
More about this item
Keywords
stock market development; equity risk premium; market potential index; duration; world economies; robustness;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jijfss:v:11:y:2023:i:1:p:30-:d:1055438. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.