Nexus of Institutional Quality and Stock Market Development: Long-Run Relationships in Dynamic Heterogeneous Panel

Autor:	Muhammad Saeed Meo, Ramzan Ali, Bilal Aziz Poswal, Mubbshar Ali
Jazyk:	angličtina
Rok vydání:	2018
Předmět:	Stock Market Performance Political Stability Government Effectiveness Regulatory Quality Rule of Law Control of Corruption Economic theory. Demography HB1-3840 Business HF5001-6182 Social sciences (General) H1-99
Zdroj:	JISR Management and Social Sciences & Economics, Vol 16, Iss 2 (2018)
Druh dokumentu:	article
ISSN:	2616-7476 1998-4162
DOI:	10.31384/jisrmsse/(2018).16.2.2
Popis:	The current study is intended to analyze the relationship between stock market development and institutional quality. The study is based on the evidence of VISTA alliance for the period of 1984 to 2012. The outcomes of the panel ARDL (PMG) revealed that high regulatory quality, government effectiveness and rule of law, positively affect stock market development in the long-run. While political stability and control over corrupt practices have a significantly negative effect on stock market development. This study provides robust evidence that institutional quality plays a critical role in stock market development in any economy. However, governments should motivate employees to work with motivation by giving rewards, so that corrupt practices can be reduced.
Databáze:	Directory of Open Access Journals
Externí odkaz:	https://doaj.org/article/35cc313025d1425586a262d0f4005f1f Zobrazit plný text záznamu View record in DOAJ Plný text ve formátu PDF