DOAJ Open Access 2021

Do Transparency and Anti-Monopoly Policies Matter for Financial Development? Evidence from a Panel ARDL-PMG Approach

Zhang Shaohua Farzan Yahya Huy Pham Muhammad Waqas

Lihat Sumber DOI

Abstrak

We examine the effect of macroeconomic stability, transparent government policies, and anti-monopoly policies on financial market development using extensive panel data of 113 countries over the period 2007 to 2017. By applying ARDL-PMG and controlling for GDP, trade openness, and market size, our findings reveal that macroeconomic stability fosters financial market development in both developing and developed countries. Effective transparency policies facilitate the link between macroeconomic stability and financial market development in the long-run. Furthermore, we find that anti-monopoly policies curb corruption and bureaucratic power to improve financial markets in the short-run. Still, a higher level of competition is more vulnerable to information asymmetry and adverse selection in the long-run.

Topik & Kata Kunci

Economic growth, development, planning Economic history and conditions

Penulis (4)

Zhang Shaohua

Farzan Yahya

Huy Pham

Muhammad Waqas

Format Sitasi

APA MLA BibTeX

Shaohua, Z., Yahya, F., Pham, H., Waqas, M. (2021). Do Transparency and Anti-Monopoly Policies Matter for Financial Development? Evidence from a Panel ARDL-PMG Approach. https://doi.org/10.1080/15140326.2020.1838113

Akses Cepat

Lihat di Sumber doi.org/10.1080/15140326.2020.1838113

Informasi Jurnal

Tahun Terbit: 2021
Sumber Database: DOAJ
DOI: 10.1080/15140326.2020.1838113
Akses: Open Access ✓