Are bond markets, economic growth, and institutional quality related? Evidence from VECM estimation

Rudra Pradhan (), Nidhi Aggarwal () and Rebecca Abraham ()
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Rudra Pradhan: Indian Institute of Technology Kharagpur
Nidhi Aggarwal: Virginia University of Lynchburg
Rebecca Abraham: Nova Southeastern University

Economics Bulletin, 2023, vol. 43, issue 1, 355 - 365

Abstract: This study investigates the interrelationships between bond markets, economic growth, and institutional quality of middle-income countries from 2005 to 2020. We find that economic growth and institutional quality explain bond markets in the long run and short run. We find that there is an association between institutional quality, economic growth, bond market development.

Keywords: bond markets; economic growth; institutional quality; middle-income countries (search for similar items in EconPapers)
JEL-codes: E6 G1 (search for similar items in EconPapers)
Date: 2023-03-30
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