ARTÍCULO
TITULO

Stock Market Development: An Assessment of its Macroeconomic and Institutional Determinants in Mauritius

Jeevita Matadeen    

Resumen

Stock market development is now well known for the role that it plays in generating gains in terms of economic growth.  It has therefore become very important to now scrutinize the main driving forces which actually cause the expansion of stock market development.  To do so, the paper scrutinizes the both the macroeconomic and institutional determinants of stock market development in Mauritius during the period 1989-2016 through a dynamic VECM.  The results indicate that macroeconomic factors such as economic growth, banking sector development, stock market liquidity and gross fixed capital formation are important drivers of stock market development in the island.  Additionally, political stability, rule of law, government effectiveness, voice accountability and control of corruption also play a key role in terms of enhancing stock market development.Keywords: Macroeconomic Determinants, Institutional Determinants, Stock market development, VECM, CointegrationJEL Classifications: E17, G1, G2DOI: https://doi.org/10.32479/ijefi.8125

 Artículos similares

       
 
Antonio Jaramillo Dayag, Fernando L. Trinidad, Dr.     Pág. 51 - 57
Universal banks combine commercial loan services and public deposit functions with investment, and other services such as home and auto financing, mutual funds, pension and insurance to name a few. The importance of universal banks have been recognized i... ver más

 
C. José García Martín, Begoña Herrero Piqueras, Ana María Ibañez Escribano     Pág. pp. 233 - 263
This study investigates the informational role of thin options markets, specifically the Spanish options market. Firstly, we examine the effect of options markets by analysing stock market reaction to earnings news, conditional on the availability of opt... ver más

 
Jelena Radojicic,Ognjen Radovic     Pág. 053 - 069
This paper examines the market efficiency of the most significant cryptocurrencies, Bitcoin and Ethereum. In the paper, we use several different tests to check the normality of return distribution, long-run correlation and heteroscedasticity of retu... ver más

 
Catalin Drob,Valentin Zichil,Cosmin Grigora?,Vlad Ciubotariu,Andreea Feraru    
The purpose of this study is to emphasize the main aspects regarding the evolution of the capital market in Romania in the context of the COVID-19 pandemic. This study tries to present the main aspects which marked the evolution of the national capital m... ver más

 
Hülya Yilmaz,Bülent Ilhan     Pág. 26 - 38
This paper investigates the dynamic relationship between the stock market index and a set of macroeconomic variables in four emerging countries. The dependent variable measures monthly stock exchange points of respective markets from January 2010 to Marc... ver más