Institutional Determinants of Stock Market Development in European Union Transition Economies

Yilmaz Bayar

Romanian Economic Journal, 2016, vol. 19, issue 61, 211-226

Abstract: 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.

Keywords: Institutional determinants; stock market development; Panel data analysis. (search for similar items in EconPapers)
JEL-codes: C23 G10 G28 O43 O52 (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:rej:journl:v:19:y:2016:i:61:p:211-226

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