Mecklai, Jamal; Shaikh, Anis - In: Macroeconomics and Finance in Emerging Market Economies 3 (2010) 1, pp. 157-165
We developed a market maturity index as a composite of the relative liquidity index (which was used historically to measure market maturity) and a market sophistication index, constructed by analyzing market volume and transaction data. We also constructed a risk management index using...