Stock Market Development in Africa: do all macroeconomic financial intermediary determinants matter?
This study brings light to some financial intermediary development factors that could negate stock market development, as well as those that could improve it. Using a panel of eight countries, from 1989 to 2008, we derive indexes via Principal Component Analysis; based on which panel fixed effect regressions are performed. The principal edge of this work is that, in policy making, not all aspects of financial intermediary development should be prioritized for stock market development.
|Date of creation:||22 Nov 2010|
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- Demirguc-Kunt, Asli & Levine, Ross, 1993. "Stock market development and financial intermediary growth : a research agenda," Policy Research Working Paper Series 1159, The World Bank.
- repec:ebl:ecbull:v:3:y:2004:i:33:p:1-9 is not listed on IDEAS
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