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What drives stock market development in emerging markets--institutions, remittances, or natural resources?

Citations

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Cited by:

  1. Byomakesh Debata & Jitendra Mahakud, 2018. "Economic policy uncertainty and stock market liquidity," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 10(1), pages 112-135, April.
  2. Emmanuel, Ongo Nkoa Bruno & Thierry, Mamadou Asngar & Christian, Atangana Zambo Charles & Ludé, Djam'Angai, 2024. "What drives financial market growth in Africa?," International Review of Financial Analysis, Elsevier, vol. 91(C).
  3. Sumon Kumar Bhaumik & Manisha Chakrabarty & Ali M. Kutan & Ekta Selarka, 2021. "How Effective are Stock Market Reforms in Emerging Market Economies? Evidence from a Panel VAR Model of the Indian Stock Market," Journal of Quantitative Economics, Springer;The Indian Econometric Society (TIES), vol. 19(4), pages 795-818, December.
  4. Khraiche, Maroula & Boudreau, James W. & Chowdhury, Md Shahedur R., 2023. "Geopolitical risk and stock market development," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 88(C).
  5. Lei Pan & Richard Adjei Dwumfour & Veasna Kheng, 2024. "Lightening the path to financial development: The power of electricity," Scottish Journal of Political Economy, Scottish Economic Society, vol. 71(3), pages 276-294, July.
  6. Ng, Adam & Ibrahim, Mansor H. & Mirakhor, Abbas, 2016. "Does trust contribute to stock market development?," Economic Modelling, Elsevier, vol. 52(PA), pages 239-250.
  7. Elena Alexandra Nenu & Georgeta Vintilă & Ştefan Cristian Gherghina, 2018. "The Impact of Capital Structure on Risk and Firm Performance: Empirical Evidence for the Bucharest Stock Exchange Listed Companies," IJFS, MDPI, vol. 6(2), pages 1-29, April.
  8. Nadia Jamil & Jaleel Ahmed, 2025. "Natural Resources—Are They a Blessing or Curse? A Systematic Literature Review of Resource‐Finance Nexus," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(4), pages 5604-5620, August.
  9. Pradhan, Rudra P. & Arvin, Mak B. & Bahmani, Sahar, 2015. "Causal nexus between economic growth, inflation, and stock market development: The case of OECD countries," Global Finance Journal, Elsevier, vol. 27(C), pages 98-111.
  10. Christopher A. Hartwell, 2014. "Do (successful) stock exchanges support or hinder institutions in transition economies?," Cogent Economics & Finance, Taylor & Francis Journals, vol. 2(1), pages 1-18, December.
  11. Jahan-Parvar, Mohammad R. & Waters, George A., 2010. "Equity price bubbles in the Middle Eastern and North African Financial markets," Emerging Markets Review, Elsevier, vol. 11(1), pages 39-48, March.
  12. Huy Tiet Pham & Christopher Gan & Baiding Hu, 2022. "Causality between Financial Development and Foreign Direct Investment in Asian Developing Countries," JRFM, MDPI, vol. 15(5), pages 1-26, April.
  13. Rudra P. Pradhan, 2011. "Financial Development, Growth and Stock Market Development: The Trilateral Analysis in India," Journal of Quantitative Economics, The Indian Econometric Society, vol. 9(1), pages 134-145.
  14. Bamanga Umar & Sabri Nayan, 2018. "Does Regulatory Quality Matters for Stock Market Development? Evidence from Africa," International Journal of Economics and Financial Issues, Econjournals, vol. 8(4), pages 10-15.
  15. Xiomara Esther Vazquez Carrazana & Gilberto Jos� Miranda, 2019. "Relación entre indicadores económicos y precio de acciones en empresas brasilenas," Revista Facultad de Ciencias Económicas, Universidad Militar Nueva Granada, vol. 27(2), pages 51-66.
  16. Khan, Muhammad Imran & Teng, Jian-Zhou & Khan, Muhammad Kamran & Jadoon, Arshad Ullah & Khan, Muhammad Fayaz, 2021. "The impact of oil prices on stock market development in Pakistan: Evidence with a novel dynamic simulated ARDL approach," Resources Policy, Elsevier, vol. 70(C).
  17. Yilmaz Bayar & Marius Dan Gavriletea & Dan Constantin Danuletiu & Adina Elena Danuletiu & Emre Sakar, 2022. "Pension Funds, Insurance Companies and Stock Market Development: Evidence from Emerging Markets," Mathematics, MDPI, vol. 10(13), pages 1-13, July.
  18. Awijen, Haithem & Ben Jabeur, Sami & Ballouk, Houssein, 2024. "Mineral policy dynamics and their impact on equity market volatility in the global south: A multi-country analysis," Resources Policy, Elsevier, vol. 99(C).
  19. Aroua Robbana & Abdessamad Raghibi & AbdulGafar Olawale Fahm, 2024. "Revisiting Socioeconomic Development Hypothesis: Does Zakat Matter for OIC Member Countries?," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(3), pages 14379-14404, September.
  20. Miletkov, Mihail & Wintoki, M. Babajide, 2012. "Financial development and the evolution of property rights and legal institutions," Emerging Markets Review, Elsevier, vol. 13(4), pages 650-673.
  21. Chowdhury, Md Shahedur R. & Khraiche, Maroula & Boudreau, James W., 2023. "Corruption and stock market development: Developing vs. developed economies," International Review of Financial Analysis, Elsevier, vol. 89(C).
  22. Olufemi Adewale Aluko & Bolanle Aminah Azeez, 2019. "Effectiveness of legal institutions in stock market development in sub-Saharan Africa," Economic Change and Restructuring, Springer, vol. 52(4), pages 439-451, November.
  23. Kutan, Ali M. & Ozsoz, Emre & Rengifo, Erick W., 2012. "Cross-sectional determinants of bank performance under deposit dollarization in emerging markets," Emerging Markets Review, Elsevier, vol. 13(4), pages 478-492.
  24. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from South Africa," MPRA Paper 76493, University Library of Munich, Germany.
  25. Al-Mashat Rania & Billmeier Andreas, 2012. "Push or Pull? The Determinants of Remittances to Egypt," Review of Middle East Economics and Finance, De Gruyter, vol. 8(2), pages 1-27, October.
  26. Sami Ben Naceur & Amr Hosny & Gregory Hadjian, 2019. "How to de-dollarize financial systems in the Caucasus and Central Asia?," Empirical Economics, Springer, vol. 56(6), pages 1979-1999, June.
  27. Cristian Barra & Anna Papaccio, 2024. "A parametric approach to institutional quality and bank cost inefficiency in diversity context: The case of Italy," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 95(3), pages 723-759, September.
  28. Shreya Pal, 2023. "Does Remittance and Human Capital Formation Affect Financial Development? A Comparative Analysis Between India and China," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 30(2), pages 387-426, June.
  29. Ayadi, Rym & Arbak, Emrah & Ben-Naceur, Sami & De Groen, Willem Pieter, 2013. "Determinants of Financial Development across the Mediterranean," CEPS Papers 7770, Centre for European Policy Studies.
  30. Buchanan, Bonnie G. & English II, Philip C. & Gordon, Rachel, 2011. "Emerging market benefits, investability and the rule of law," Emerging Markets Review, Elsevier, vol. 12(1), pages 47-60, March.
  31. Chris Doucouliagos & Jakob de Haan & Jan-Egbert Sturm, 2022. "What drives financial development? A Meta-regression analysis [A new database of financial reforms]," Oxford Economic Papers, Oxford University Press, vol. 74(3), pages 840-868.
  32. Julio Villavicencio Vásquez, 2025. "How to develop the capital market?: make countries fitness," Documentos de Trabajo / Working Papers 2025-542, Departamento de Economía - Pontificia Universidad Católica del Perú.
  33. Khalil Jebran & Shihua Chen & Gohar Saeed & Alam Zeb, 2017. "Dynamics of oil price shocks and stock market behavior in Pakistan: evidence from the 2007 financial crisis period," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 3(1), pages 1-12, December.
  34. Haruna, Issahaku, 2019. "Harnessing international remittances for financial development: The role of monetary policy," MPRA Paper 97004, University Library of Munich, Germany, revised 30 Jul 2019.
  35. Ullah, Assad & Zhao, Xinshun & Kamal, Muhammad Abdul & Zheng, JiaJia, 2020. "Modeling the relationship between military spending and stock market development (a) symmetrically in China: An empirical analysis via the NARDL approach," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 554(C).
  36. Dhruhi Sheth & Manan Shah, 2023. "Predicting stock market using machine learning: best and accurate way to know future stock prices," International Journal of System Assurance Engineering and Management, Springer;The Society for Reliability, Engineering Quality and Operations Management (SREQOM),India, and Division of Operation and Maintenance, Lulea University of Technology, Sweden, vol. 14(1), pages 1-18, February.
  37. Christopher A. Hartwell, 2014. "Capitalism and (versus?) democracy: stock markets and democratization in transition," Applied Economics Letters, Taylor & Francis Journals, vol. 21(14), pages 979-983, September.
  38. Rudra P. PRADHAN & Mak B. ARVIN & Bele SAMADHAN & Shilpa TANEJA, 2013. "The Impact of Stock Market Development on Inflation and Economic Growth of 16 Asian Countries: A Panel VAR Approach," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 13(1), pages 203-218.
  39. Assad Ullah & Xinshun Zhao & Chenghui Ye & Muhammad Abdul Kamal, 2024. "Impact of Economic Policy Uncertainty Shocks on China’s Stock Market Development: Evidence from Nonlinear Autoregressive Distributed Lag and Spectral Causality Approaches," SAGE Open, , vol. 14(3), pages 21582440241, September.
  40. Sin-Yu Ho, 2018. "Macroeconomic determinants of stock market development in South Africa," International Journal of Emerging Markets, Emerald Group Publishing Limited, vol. 14(2), pages 322-342, December.
  41. Opperman, Pieter & Adjasi, Charles Komla Delali, 2019. "Remittance volatility and financial sector development in sub-Saharan African countries," Journal of Policy Modeling, Elsevier, vol. 41(2), pages 336-351.
  42. Klose, Jens, 2024. "Empirical effects of sanctions and support measures on stock prices and exchange rates in the Russia–Ukraine war," Global Finance Journal, Elsevier, vol. 59(C).
  43. ZAAROUR, Fatma & AJIMI, Adnene, 2021. "Les Transferts de Fonds Monétaires et les marchés boursiers dans les pays en développement [Remittances and Stock Markets in Developing Countries]," MPRA Paper 106413, University Library of Munich, Germany.
  44. Ray Saadaoui Mallek & Mohamed Albaity & Mahfuzur Rahman, 2025. "Economic freedom, economic sustainability, and herding behavior: Does the ubiquity of information communication technology matter?," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 11(1), pages 1-29, December.
  45. Sin-Yu Ho & Bernard Njindan Iyke, 2017. "Determinants of stock market development: a review of the literature," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 34(1), pages 143-164, March.
  46. Acquaah, Moses, 2015. "Determinants of corporate listings on stock markets in Sub-Saharan Africa: Evidence from Ghana," Emerging Markets Review, Elsevier, vol. 22(C), pages 154-175.
  47. Thomas O’Connor, 2011. "Financial Development, Internationalisation and Firm Value," Journal of Emerging Market Finance, Institute for Financial Management and Research, vol. 10(1), pages 21-71, April.
  48. Ariss, Rima Turk & Rezvanian, Rasoul & Mehdian, Seyed M., 2011. "Calendar anomalies in the Gulf Cooperation Council stock markets," Emerging Markets Review, Elsevier, vol. 12(3), pages 293-307, September.
  49. Richard P.C. Brown & Fabrizio Carmignani, 2015. "Revisiting the Effects of Remittances on Bank Credit: A Macro Perspective," Scottish Journal of Political Economy, Scottish Economic Society, vol. 62(5), pages 454-485, November.
  50. Alaaeddin Al-Tarawneh & Ghazi Al-Assaf, 2018. "Macroeconomic Drivers of Stock Market Development: Evidence From Jordan," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 9(3), pages 117-124, July.
  51. Rene Coppe Pimentel & Taufiq Choudhry, 2014. "Stock Returns Under High Inflation and Interest Rates: Evidence from the Brazilian Market," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 50(1), pages 71-92, January.
  52. Sin-Yu Ho & N.M. Odhiambo, 2018. "Analysing the macroeconomic drivers of stock market development in the Philippines," Cogent Economics & Finance, Taylor & Francis Journals, vol. 6(1), pages 1451265-145, January.
  53. Hoover, Gary A. & Smimou, K., 2023. "Socially conscious investment funds and home country institutions," Economic Analysis and Policy, Elsevier, vol. 79(C), pages 395-417.
  54. Batten, Jonathan A. & Szilagyi, Peter G., 2012. "International banking during the Global Financial Crisis: U.K. and U.S. perspectives," International Review of Financial Analysis, Elsevier, vol. 25(C), pages 136-141.
  55. Ali, Adnan & Ramakrishnan, Suresh & Faisal,, 2022. "Financial development and natural resources. Is there a stock market resource curse?," Resources Policy, Elsevier, vol. 75(C).
  56. Ho, Sin-Yu, 2017. "The Macroeconomic Determinants of Stock Market Development: Evidence from Malaysia," MPRA Paper 77232, University Library of Munich, Germany.
  57. Jahan-Parvar, Mohammad R. & Mohammadi, Hassan, 2013. "Risk and return in the Tehran stock exchange," The Quarterly Review of Economics and Finance, Elsevier, vol. 53(3), pages 238-256.
  58. Sin-Yu Ho, 2019. "The macroeconomic determinants of stock market development in Malaysia: an empirical analysis," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 21(2), pages 174-193.
  59. Martin M. Bojaj, 2025. "Dynamic effects of blockchain on financial markets: evidence from TVP-Bayesian VAR with a connectedness approach," Empirical Economics, Springer, vol. 68(5), pages 2159-2197, May.
  60. Smimou, Kamal & Karabegovic, Amela, 2010. "On the relationship between economic freedom and equity returns in the emerging markets: Evidence from the Middle East and North Africa (MENA) stock markets," Emerging Markets Review, Elsevier, vol. 11(2), pages 119-151, June.
  61. Ahmed, Walid M.A., 2020. "Corruption and equity market performance: International comparative evidence," Pacific-Basin Finance Journal, Elsevier, vol. 60(C).
  62. Ma, Yechi & Chen, Zhiguo & Shinwari, Riazullah & Khan, Zeeshan, 2021. "Financialization, globalization, and Dutch disease: Is Dutch disease exist for resources rich countries?," Resources Policy, Elsevier, vol. 72(C).
  63. Issahaku, Haruna & Abor, Joshua Yindenaba & Harvey, Simon Kwadzogah, 2017. "Remittances, banks and stock markets: Panel evidence from developing countries," Research in International Business and Finance, Elsevier, vol. 42(C), pages 1413-1427.
  64. Golpe, Antonio A. & Sánchez-Fuentes, A. Jesus & Vides, José Carlos, 2023. "Fiscal sustainability, monetary policy and economic growth in the Euro Area: In search of the ultimate causal path," Economic Analysis and Policy, Elsevier, vol. 78(C), pages 1026-1045.
  65. Ayadi, Rym & Arbak, Emrah & Ben-Naceur, Sami & De Groen, Willem Pieter, 2013. "Benchmarking the Financial Sector in the Southern and Eastern Mediterranean Countries and Projecting 2030 Financial Sector Scenarios," CEPS Papers 7868, Centre for European Policy Studies.
  66. Sin-Yu Ho & Nicholas M. Odhiambo, 2019. "The macroeconomic drivers of stock market development: evidence from Hong Kong," Journal of Financial Economic Policy, Emerald Group Publishing Limited, vol. 12(2), pages 185-207, July.
  67. Khalid Hafeez & Pantea Foroudi & Keith Dinnie & Bang Nguyen & Sanjai K Parahoo, 2016. "The role of place branding and image in the development of sectoral clusters: The case of Dubai," Journal of Brand Management, Palgrave Macmillan, vol. 23(4), pages 383-402, July.
  68. Sheilla Nyasha & Nicholas M. Odhiambo, 2020. "Determinants of the Brazilian Stock Market Development," Journal of Developing Areas, Tennessee State University, College of Business, vol. 54(1), pages 53-64, January-M.
  69. Evans, Olaniyi, 2018. "Blockchain Technology and the Financial Market: An Empirical Analysis," MPRA Paper 99212, University Library of Munich, Germany.
  70. Gloria Clarissa O. Dzeha, 2016. "The decipher, theory or empirics: a review of remittance studies," African Journal of Accounting, Auditing and Finance, Inderscience Enterprises Ltd, vol. 5(2), pages 113-134.
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