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Recent literature argues that stock market liberalisation has positive long- and short-run effects on macroeconomic growth and private investment, respectively. However, given a sample of up to 64 countries from 1981 through 1998, positive results for long-run growth are largely dependent on the...
Persistent link: https://www.econbiz.de/10012868625
Real price levels are systematically lower in developing countries than in developed countries. This paper provides time series evidence about the effect of financial development on real price level differences for 40 developing countries. Based on cointegration tests, we find a long-run...
Persistent link: https://www.econbiz.de/10014220988
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calendar years (1997-2006) of Kazakhstan were analyzed by using a multivariate regression model with weighted least squares … estimates. The results indicate that FDI has a minimum or statistically insignificant impact on GDP growth of Kazakhstan. The … Kazakhstan should consider strategic goals of FDI to maximize its benefits into the economy …
Persistent link: https://www.econbiz.de/10012970638
Taking listed companies of strategic emerging industries as the research subject, this paper uses KZ index to measure the degrees of financing constraints and financial intermediary as well as the stock market to represent the level of financial development. Then empirical models are constructed...
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