AN EXAMINATION ON MACROECONOMIC AND INSTITUTIONAL DETERMINANTS OF STOCK MARKET DEVELOPMENT: PANEL DATA ANALYSIS

In recent years, studies relating to the imposition of the factors that determine financial development increased rapidly attract attention. However, the literature on the factors that determine the development of emerging economies stock market appears to be a small number of theoretical and empiri...

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Autores principales:	Nuri BALTACI, Hasan AYAYDIN, Pınar HAYALOĞLU
Formato:	article
Lenguaje:	DE EN FR TR
Publicado:	Fırat University 2019
Materias:	the stock market institutional structure governance index panel data analysis Social Sciences H Social sciences (General) H1-99
Acceso en línea:	https://doaj.org/article/348893bd4ad34838b0427c8960dc61e5
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spelling	oai:doaj.org-article:348893bd4ad34838b0427c8960dc61e52021-11-24T09:21:03ZAN EXAMINATION ON MACROECONOMIC AND INSTITUTIONAL DETERMINANTS OF STOCK MARKET DEVELOPMENT: PANEL DATA ANALYSIS2148-416310.9761/JASSS878https://doaj.org/article/348893bd4ad34838b0427c8960dc61e52019-08-01T00:00:00Zhttps://jasstudies.com/index.jsp?mod=tammetin&makaleadi=1900381415_07Baltac%C4%B1Nuri-vd-125-142.pdf&key=26680https://doaj.org/toc/2148-4163In recent years, studies relating to the imposition of the factors that determine financial development increased rapidly attract attention. However, the literature on the factors that determine the development of emerging economies stock market appears to be a small number of theoretical and empirical studies. From this point, in this study, macroeconomic and institutional factors that affect the development of the stock market is investigated in developing countries, the period of 2000-2011 using yearly panel data for 39 developing countries. In this study, three different models were used. The results of study achieved are supporting a relationship between the quality of governance in countries and the development of the stock market, indicate that there isn’t a relationship between the level of political freedom and the development of the stock market. The findings obtained in terms of macroeconomic variables in the model, all three findings overlap with each other. Findings of macroeconomic variables, shows that except the gross national savings other variables under consideration effect the development of the stock market. According to the results, there is a the same way relationship between stock market development and Gross Domestic Product, private sector loans, foreign direct investment banks. These factors will have a positive effect on increase in stock markets development. Finally, an inverse relationship between the stock markets development and inflation rate is examined. This finding shows that a rise in the inflation rate affects negatively stock market development.Nuri BALTACIHasan AYAYDINPınar HAYALOĞLUFırat Universityarticlethe stock marketinstitutional structuregovernance indexpanel data analysisSocial SciencesHSocial sciences (General)H1-99DEENFRTRJournal of Academic Social Science Studies , Vol 6, Iss 19, Pp 125-142 (2019)
institution	DOAJ
collection	DOAJ
language	DE EN FR TR
topic	the stock market institutional structure governance index panel data analysis Social Sciences H Social sciences (General) H1-99
spellingShingle	the stock market institutional structure governance index panel data analysis Social Sciences H Social sciences (General) H1-99 Nuri BALTACI Hasan AYAYDIN Pınar HAYALOĞLU AN EXAMINATION ON MACROECONOMIC AND INSTITUTIONAL DETERMINANTS OF STOCK MARKET DEVELOPMENT: PANEL DATA ANALYSIS
description	In recent years, studies relating to the imposition of the factors that determine financial development increased rapidly attract attention. However, the literature on the factors that determine the development of emerging economies stock market appears to be a small number of theoretical and empirical studies. From this point, in this study, macroeconomic and institutional factors that affect the development of the stock market is investigated in developing countries, the period of 2000-2011 using yearly panel data for 39 developing countries. In this study, three different models were used. The results of study achieved are supporting a relationship between the quality of governance in countries and the development of the stock market, indicate that there isn’t a relationship between the level of political freedom and the development of the stock market. The findings obtained in terms of macroeconomic variables in the model, all three findings overlap with each other. Findings of macroeconomic variables, shows that except the gross national savings other variables under consideration effect the development of the stock market. According to the results, there is a the same way relationship between stock market development and Gross Domestic Product, private sector loans, foreign direct investment banks. These factors will have a positive effect on increase in stock markets development. Finally, an inverse relationship between the stock markets development and inflation rate is examined. This finding shows that a rise in the inflation rate affects negatively stock market development.
format	article
author	Nuri BALTACI Hasan AYAYDIN Pınar HAYALOĞLU
author_facet	Nuri BALTACI Hasan AYAYDIN Pınar HAYALOĞLU
author_sort	Nuri BALTACI
title	AN EXAMINATION ON MACROECONOMIC AND INSTITUTIONAL DETERMINANTS OF STOCK MARKET DEVELOPMENT: PANEL DATA ANALYSIS
title_short	AN EXAMINATION ON MACROECONOMIC AND INSTITUTIONAL DETERMINANTS OF STOCK MARKET DEVELOPMENT: PANEL DATA ANALYSIS
title_full	AN EXAMINATION ON MACROECONOMIC AND INSTITUTIONAL DETERMINANTS OF STOCK MARKET DEVELOPMENT: PANEL DATA ANALYSIS
title_fullStr	AN EXAMINATION ON MACROECONOMIC AND INSTITUTIONAL DETERMINANTS OF STOCK MARKET DEVELOPMENT: PANEL DATA ANALYSIS
title_full_unstemmed	AN EXAMINATION ON MACROECONOMIC AND INSTITUTIONAL DETERMINANTS OF STOCK MARKET DEVELOPMENT: PANEL DATA ANALYSIS
title_sort	examination on macroeconomic and institutional determinants of stock market development: panel data analysis
publisher	Fırat University
publishDate	2019
url	https://doaj.org/article/348893bd4ad34838b0427c8960dc61e5
work_keys_str_mv	AT nuribaltaci anexaminationonmacroeconomicandinstitutionaldeterminantsofstockmarketdevelopmentpaneldataanalysis AT hasanayaydin anexaminationonmacroeconomicandinstitutionaldeterminantsofstockmarketdevelopmentpaneldataanalysis AT pınarhayaloglu anexaminationonmacroeconomicandinstitutionaldeterminantsofstockmarketdevelopmentpaneldataanalysis AT nuribaltaci examinationonmacroeconomicandinstitutionaldeterminantsofstockmarketdevelopmentpaneldataanalysis AT hasanayaydin examinationonmacroeconomicandinstitutionaldeterminantsofstockmarketdevelopmentpaneldataanalysis AT pınarhayaloglu examinationonmacroeconomicandinstitutionaldeterminantsofstockmarketdevelopmentpaneldataanalysis
_version_	1718415220150370304

AN EXAMINATION ON MACROECONOMIC AND INSTITUTIONAL DETERMINANTS OF STOCK MARKET DEVELOPMENT: PANEL DATA ANALYSIS

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