文章基本信息

标题：Long Run Impacts of Interest Rate Liberalization on Stock Market Development
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作者：Wakilat Balogun ; Wakilat Balogun ; Jauhari Dahalan 等
期刊名称：Procedia - Social and Behavioral Sciences
印刷版ISSN：1877-0428
出版年度：2016
卷号：219
页码：126-133
DOI：10.1016/j.sbspro.2016.04.053
语种：English
出版社：Elsevier
摘要：AbstractThe paper investigates the long run impacts of interest rate liberalization on stock market development in the seven selected sub-Saharan African countries using panel dataset that spans 1990 to 2013. Interest rates deregulation is measured by liberalization index considering the different periods that the respective SSA countries liberalized their interest rates. The index of stock market development is proxy by market capitalization. The study employs dynamic heterogeneous panel method using the technique of Pooled Mean Group (PMG). The results reveal that on the average liberalizing the interest rates has a negative long run impact on the development of the stock markets in the seven selected SSA economies. The policy recommendation as a result of this finding is that liberalization of interest rates in the SSA region should be a guided one.
关键词：Interest rate;liberalization;pooled mean group;stock market development.