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Stock Market Development in India: Is There Any Trend Break?

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  • Pratap chandra Biswal

    (Institute for Social and Economic Change)

  • B Kamaiah

Abstract

This paper addresses the important question of what happened to the Indian stock market following financial liberalisation. Considering three stock market indicators, viz., size, liquidity and volatility, and applying two time series trend break techniques of Perron (1989, 1997) on monthly data (1991:1 to 1998:12) of Bombay Stock Exchange, it has been found that the Indian stock market grew and became more liquid after liberalisation. However, in respect of volatility the market had not exhibited any significant changes.

Suggested Citation

  • Pratap chandra Biswal & B Kamaiah, 2000. "Stock Market Development in India: Is There Any Trend Break?," Working Papers 62, Institute for Social and Economic Change, Bangalore.
    • Handle: RePEc:sch:wpaper:62
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    References listed on IDEAS

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    Keywords

    Stock Market; Structural Breaks;

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