Institutional Determinants of Stock Market Development in European Union Transition Economies
Stock markets have become an important market for long run fund flows between savers and investors and also a determinant of economic growth with the emergence of endogenous growth theories. This study investigates the impact of institutional development on stock market development in 8 European Uni...
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| Format: | Article |
| Language: | English |
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Editura ASE Bucuresti
2016-09-01
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| Series: | Romanian Economic Journal |
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| Online Access: | http://www.rejournal.eu/article/institutional-determinants-stock-market-development-european-union-transition-economies |
| Summary: | Stock markets have become an important market for long run fund flows between savers and investors and also a determinant of economic growth with the emergence of endogenous growth theories. This study investigates the impact of institutional development on stock market development in 8 European Union transition economies during 2002-2013 period employing panel regression. We found that political stability, regulatory quality, rule of law and control of corruption had positive impact on stock market development. |
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| ISSN: | 1454-4296 2286-2056 |