Simplice A, Asongu (2012): Government quality determinants of stock market performance in African countries. Forthcoming in:
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How do government policies and institutions affect stock market performance? As stock markets grow broader and deeper in African countries, the question becomes more critical. Government quality dynamics of corruption-control, government-effectiveness, political-stability or no violence, voice & accountability, regulation quality and rule of law are instrumented with income-levels, religious-dominations, press-freedom degrees and legal-origins to account for stock market performance dynamics of capitalization, value traded, turnover and number of listed companies. The results demonstrate a significant positive association between stock market performance measures and the quality of government institutions. These findings suggest countries with better developed government institutions would favor stock markets with higher market capitalization, better turnover ratios, higher value in shares traded and greater number of listed companies.
|Item Type:||MPRA Paper|
|Original Title:||Government quality determinants of stock market performance in African countries|
|Keywords:||Financial Markets; Government Policy; Political Economy|
|Subjects:||P - Economic Systems > P4 - Other Economic Systems > P43 - Public Economics; Financial Economics
G - Financial Economics > G1 - General Financial Markets > G18 - Government Policy and Regulation
G - Financial Economics > G2 - Financial Institutions and Services > G28 - Government Policy and Regulation
G - Financial Economics > G1 - General Financial Markets > G10 - General
P - Economic Systems > P1 - Capitalist Systems > P16 - Political Economy
|Depositing User:||Simplice Anutechia Asongu|
|Date Deposited:||24. Jun 2012 02:55|
|Last Modified:||13. Feb 2013 19:32|
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