Are the Institutions of the Stock Market and the Market for Corporate Control Evolutionary Advances for Developing Countries?
Ajit Singh
MPRA Paper from University Library of Munich, Germany
Abstract:
This paper explores the question of whether the institution of the stock market is likely to be helpful to developing countries in promoting their real economy and ensuring fast industrial growth. The case for and against the stock market inevitably involves a discussion of the important related subjects of corporate finance and corporate governance. Contrary to the literature the paper arrives at a negative overall assessment of the institution of the stock market in relation to economic development. It also contributes by its policy proposals concerning the markets for corporate control, which again are in conflict with much of the conventional wisdom on the subject.
Keywords: Stock market; Market for corporate control; Corporate finance; Corporate governance (search for similar items in EconPapers)
JEL-codes: A1 O1 O16 (search for similar items in EconPapers)
Date: 2010
New Economics Papers: this item is included in nep-pke
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Citations:
Published in Macroeconomics, Finance and Money: Essays in honour of Philip Arestis, Fontana, G., McCombie, J. and Sawyer, M. (eds.) (2010): pp. 311-326
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https://mpra.ub.uni-muenchen.de/24346/1/MPRA_paper_24346.pdf original version (application/pdf)
Related works:
Chapter: Are the Institutions of the Stock Market and the Market for Corporate Control Evolutionary Advances for Developing Countries? (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:24346
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