In last decades financial innovation and the rise of new classes of financial institutions, combined with a change in the trading behavior of traditional institutional investors, have been contributed largely to increased market liquidity. Financial innovation has been considered to lower cost...

Since the implementation of financial reform policy measures in early 1990s, the capital market in India has undergone a radical transformation. Thus, capital market of India presents a picture of better efficiency, liquidity, transparency and regulatory oversight which are instrumental to...

Until the 1980s, there was a general disinclination towards foreign investment or private commercial flows as India's development strategy was focused on self-reliance and import substitution and current account deficits were financed largely through debt flows and official development...

The stock market volatility has drastically increased in recent days and economies are currently passing through a turbulent period, as reflected in all financial markets and asset classes. The global economic slowdown, the US real estate decline, the credit crisis and the recent reversal in the...

The development of Indian capital market in last few years has been spectacular in spite of the recent global slowdown. The objective of this paper is to explore the presence of a causal relation between capital market development and economic growth in India and to find the exact direction of...

The capital market of India has undergone radical reforms since early 1990s. Thus, it is no longer isolated from the global economic environment. Recently India has witnessed bouts of volatility in its market. Some of which have had their origin in global events such as US sub-prime crisis. In...

The sub-prime crisis of mid 2008 has revealed that financial asset price volatility has the potential to undermine financial stability. It has been observed that the financial stability is endangered more by sudden shifts in volatility rather than by a sustained increase in the level of...

It is a stylised fact in the fields of economic growth theory and economic history that innovation is the engine of economic growth. Like the technological innovations, innovations in the financial sector are expected to change all aspects of economic activity, bringing about a greater...

Advertising plays a significant role in the economic life of almost every market economy. In particular, the informative role that advertising plays in the modern marketing in motivating potential consumers to increase consumption at the expense of savings is hardly debatable. Thus, the purpose...