JED, Vol 14, No.1, April 2012, pp. 101-112 | DOI: 10.33301/2012.14.01.06
Determinants of Stock Market Development in Southeast Asian Countries
Phan Dinh Nguyen; Vo Thi Ha Hanh
Abstract:This paper examines the determinants of stock market development in Southeast Asian countries. Our findings show that income growth rate, saving rate, financial development, stock market liquidity, and macroeconomic stability are the main determinants of market capitalization. Meanwhile macroeconomic stability meas- ured by the change in inflation and the financial crisis have had a negative effect on market capitalization, other variales have a potivive effect.
Keywords:Stock market development, ASEAN stock markets, panel data analysis
