scholarly journals The performance of Libyan stock market

2012 ◽  
Vol 60 (7) ◽  
pp. 27-38
Author(s):  
Atiya Aljbiri
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Comparative Method ◽  
Market Size ◽  
Financial Indicators ◽  
Financial Instruments ◽  
Short Time ◽  
Limited Choice ◽  
Made In

The objective of this paper is to answer the following question:. To what extent Libyan stock market developed to contribute to economic growth in Libya? This can be evaluated by using many financial indicators, these include stock market size, activity and efficiency, as well as the study including the regulatory framework, and information technology (IT) set in place by the market authorities. However, descriptive and comparative method was used. The results indicated that, despite the modest progress made in a very short time regarding all indicators which the paper calculated, however, it can be said that Libyan stock market remain largely underdeveloped, small and relatively inefficient. Its market capitalization to GDP is very low and investors have no access to long-term capital. In addition, the market still have very low liquidity and investors still have a limited choice of financial instruments and face liquidity problems. In the end of this paper was its conclusion a set of recommendations that can be used in developing a program that aims to speed the development of Libyan stock market and increase its efficiency.

scholarly journals FINANCIAL INSTRUMENTS AND THEIR IMPACT ON THE GROWTH OF INVESTMENT – A STUDY ON THE LIBYAN MARKET

2020 ◽  
Vol 4 (3) ◽  
Author(s):  
Abdulbaset Ali Alhaj ◽  
Abdullah Mohammed Awn ◽  
Al Taher Khalifa Abdusalam Alaswed
Keyword(s):  
Output Growth ◽  
Independent Effect ◽  
Financial Instruments ◽  
Domestic Investment ◽  
Short Time ◽  
Investment Growth ◽  
The Relationship ◽  
Limited Choice ◽  
Made In

Purpose: The aim of this study was to explore the relationship between Financial instruments and growth of investment. Design/Methodology/Approach: The distributed questionnaires include 300 clients from banks and companies represented in Tripoli. The data collected was analyzed using SPSS- SEM. Results: The obtained results showed that indicated that, despite the modest progress made in a very short time regarding all indicators which the paper calculated, however, it can be said that Libyan stock market remain largely underdeveloped, small and relatively inefficient. Its market capitalization to GDP is very low and investors have no access to long-term capital. In addition, the market still has very low liquidity and investors still have a limited choice of financial instruments and face liquidity problems. Originality/Value: This study contributes significantly to the importance of diversity in the use of financial instruments that help in the growth of investment. The study added a new discussion, which is the disclosure that financial instruments affect the growth of domestic investment, especially by easing financing restrictions, which allows companies to increase investment in response to increased demand for production. The main finding is that the structure of the financial system does not have an independent effect on investment growth, in the sense that it does not enhance the response of investment to changes in production, whereas financial development makes investment more responsive to output growth. Thus, instead of promoting a specific type of financial instrument, countries should implement policies that reduce transaction costs in financial intermediation and enforce the rights of creditors and investors. This will facilitate the development of banks and stock markets, which will stimulate the growth of domestic investment. JEL: D53; G14; O16

Markets, Technological Change and Economic Growth (The Quaid-i-Azam Lecture)

1994 ◽  
Vol 33 (4I) ◽  
pp. 327-356 ◽  
Author(s):  
Richard G. Lipsey
Keyword(s):  
United States ◽  
Economic Growth ◽  
Developing Countries ◽  
Common Ground ◽  
The United States ◽  
Industrial Countries ◽  
Canadian Institute ◽  
Primary Focus ◽  
Short Time

I am honoured to be invited to give this lecture before so distinguished an audience of development economists. For the last 21/2 years I have been director of a project financed by the Canadian Institute for Advanced Research and composed of a group of scholars from Canada, the United States, and Israel.I Our brief is to study the determinants of long term economic growth. Although our primary focus is on advanced industrial countries such as my own, some of us have come to the conclusion that there is more common ground between developed and developing countries than we might have first thought. I am, however, no expert on development economics so I must let you decide how much of what I say is applicable to economies such as your own. Today, I will discuss some of the grand themes that have arisen in my studies with our group. In the short time available, I can only allude to how these themes are rooted in our more detailed studies. In doing this, I must hasten to add that I speak for myself alone; our group has no corporate view other than the sum of our individual, and very individualistic, views.

Stock Market Development And Economic Growth in Nigeria

1998 ◽  
Vol 2 (1) ◽  
pp. 33-38 ◽  
Author(s):  
John C. Anyanwu
Keyword(s):  
Economic Growth ◽  
Risk Management ◽  
Stock Market ◽  
Conceptual Framework ◽  
Corporate Control ◽  
Market Development ◽  
Political Environment ◽  
Stock Market Development ◽  
Long Run

Is the stock market development important for economic growth in Nigeria? One line of research argues that it is not; another line stresses the importance of stock market development in allocating capital, acquisition of information about firms, easing risk management, mobilization of savings, and exerting corporate control. Indeed, some theories provide a conceptual framework for the belief that larger, more efficient stock markets boost economic growth. This article examines whether there is a strong empirical association between Nigerian stock market development and long-run economic growth. Our empirical results suggest that the Nigerian stock market development is positively and strongly associated with long-term economic growth. This implies that Nigerian policymakers should make concerted efforts at removing obstacles to stock market development while creating and sustaining an enabling macroeconomic and political environment for the market’s development.

scholarly journals Analisis Peningkatan Upah Minimum Terhadap Penyerapan Tenaga Kerja di Provinsi Jawa Tengah

2021 ◽  
Vol 10 (3) ◽  
pp. 134-143
Author(s):  
Annisa Yulianti ◽  
Hadi Sasana
Keyword(s):  
Economic Growth ◽  
Minimum Wage ◽  
Time Series Data ◽  
Series Data ◽  
Short Term ◽  
Central Java ◽  
Meaningful Relationship ◽  
Short Time ◽  
Relationship Of

 This study aims to analyze the short-term and long-term relationship of increasing the minimum wage in Central Java on employment. The research method used is ECM. The variables of this study include labor, minimum wages, PMDN, and economic growth. The data used are time-series data from 1990-2020. The results show that the minimum wage has a positive and significant relationship to the employment in the long term but not significantly in the short time. PMDN has a negative but significant correlation in the short and long term. At the same time, the variable economic growth has a positive but not meaningful relationship to employment absorption in the long and short term.

scholarly journals Stock Market and Economic Development: a Causality Test

2007 ◽  
Vol 3 (1) ◽  
pp. 36-44 ◽  
Author(s):  
Surya Bahadur G.C. ◽  
Suman Neupane
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Stock Market ◽  
Time Series Data ◽  
Series Data ◽  
Causality Test ◽  
Stock Market Development ◽  
Business Studies ◽  
Long Run ◽  
Made In

ABSTRACT An attempt has been made in this paper to examine the existence of causality relationship between stock market and economic growth based on the time series data for the year 1988 to 2005 using Granger causality test. The study finds the empirical evidence of long-run integration and causality of macroeconomic variables and stock market indicators even in a small capital market of Nepal. The causality has been observed only in real terms but not in nominal variables. In econometric sense, it depicts that the stock market plays significant role in determining economic growth and vice versa. Interestingly, the causation is evident with a lag of 3 to 4 years. Also, the paper reveals the importance of stock market development for fostering economic development. Journal of Nepalese Business Studies 2006/III/1 pp. 36-44

scholarly journals FINANCIAL ENGINEERING AS A TOOL FOR THE DEVELOPMENT OF CORPORATE BOND MARKET IN EASTERN EUROPE ON THE EXAMPLE OF UKRAINE

2018 ◽  
Vol 4 (4) ◽  
pp. 120-125
Author(s):  
Maria Iorgachova ◽  
Olena Kovalova ◽  
Ivan Plets
Keyword(s):  
Stock Market ◽  
Financial Engineering ◽  
Bond Market ◽  
The State ◽  
Corporate Bond ◽  
Financial Resources ◽  
General Level ◽  
Financial Instruments ◽  
Corporate Bond Market

In the context of the gap between the financial and real sectors of the Ukrainian economy, there is a problem of the absence of financial instruments able to solve the issue of financing the development of the national economic system on a long-term basis. At the current stage of the stock market development, financial engineering has a significant potential for the effective application since it can become an instrument that meets the current needs of the market. The purpose of this article is to study the current dynamics of development and features of the corporate bond market in Ukraine, as well as to develop the parameters of the new profit-bonds with the help of financial engineering, which takes into account investors’ inquiries in the formation of an investment portfolio and supposed to be a profitable form of attracting financial resources for issuers. Methodology. Materials of periodicals, analytical market reviews, resources of the Internet are the informational and methodological basis of the investigation. The research is based on general scientific and special methods, such as: comparison, systematic approach factor analysis, economic and mathematical methods. A comparative analysis of the parameters of financial instruments has been carried out that allowed determining the investors’ inquiries, investment trends and features of the choice of financial instruments by investors and accordingly to offer competitive debt securities according to the parameters of payment, maturity, security, repayment order, issue of currency. The results of the study indicate that there is the necessity of reformation of the stock market in terms of expanding the range of financial instruments based on financial engineering. The introduction of profit-bonds will allow offering participants of the Ukrainian market competitive conditions for the issue of securities, which are based on the modelled parameters of bonds. A schematic algorithm for the implementation of profit bonds is developed; it joins a complex of interrelated stages of implementation, which are sensitive to internal and external factors of influence. Practical implications. Directions for improving financial instruments on the basis of financial engineering can be applied by the participants of the stock market that will increase the general level of economic activity in the national economy and permit to accumulate financial resources on the profitable terms. Value/originality. The article reveals the development of the domestic market for corporate bonds as an important segment of the stock market through the application of financial engineering and the use of new financial products created to address the issue of attracting the necessary financial resources to the real sector. The introduction of financial engineering as a tool for the development of Ukrainian corporate bond market and its schematic algorithm of the implementation will allow an investor to react in time to the market changes. The creation of the State Fund for the Guaranteeing of Income of the Investors Market Act, which is formed at the state level by analogy with the existing Guarantee Fund for Individual Deposits, will allow the fulfilment of the security parameter that will classify profit bonds as long-term debt instruments with a high credit rating.

scholarly journals Financial instruments of investment

2020 ◽  
pp. 35-39
Author(s):  
Tetiana ZUBKO ◽  
Andrii DIDKIVSKYI ◽  
Artem TERESHCHENKO
Keyword(s):  
Stock Market ◽  
Average Rate ◽  
Capital Gains ◽  
Financial Instruments ◽  
Government Bonds ◽  
Financial Investment ◽  
Advantages And Disadvantages ◽  
The Us

Introduction. One of the conditions of successful functioning, scaling and any enterprise developing is the availability of financial resources in an amount that responds to current and strategic needs. Their rational use, multiplication, and determination of the directions of investing can significantly affect the efficiency of the present activity and the future of the business as a whole. For an enterprise is important to search for ways to raise capital, ensure efficient use and invest in the most economically based and profitable projects in terms of payback position during the invest activities. The purpose of the paper is to analyze ways and compare methods of investing through financial instruments to find the best one. Results. The article systematizes the basic ways and types of investing through financial instruments. The practical aspects of return on invested financial capital and the conditions of its formation are investigated. The return on the invested capital of different ways of investing is compared and the ways of its increase are grounded. Deposits rates, inflation rate, and level of bonds' returns of Ukraine’s domestic government loans over the last twelve years are analyzed. The main US brokerage agencies are compared, and the best one is determined. The US stock market is analyzed. The advantages and disadvantages of financial investment instruments are identified. Conclusion. On the whole, having analyzed the deposit market, the Ukrainian government bonds, and the US stock market, we can conclude on the instruments of investing. The most popular option among Ukrainians is to use deposits. This financial instrument lets us save costs. The timing of the investment may vary depending on the needs. In comparison with deposits, T-bills are a more complex tool that requires additional knowledge and skills. This type of investing is used by investors to obtain short-term benefits and speculation. From 2018 to 2019, the annual average rate of return is 17%. Investment term up to 5 years. The last way to make a profit is to buy shares in the US stock market. With a long-term investment, this method of investing allows us to get 8% per annum with inflation-adjusted. Compared to deposits and T-bills, one can expect significant capital gains. The main disadvantages of this method are the human factor, so the large volume of funds should be accredited by institutional investors. In this article, investing in the US stock market is the best way to earn a return on investment.

scholarly journals The Dynamic Impacts of the Global Shipping Market under the Background of Oil Price Fluctuations and Emergencies

Complexity ◽  
2021 ◽  
Vol 2021 ◽  
pp. 1-13
Author(s):  
Zihan Chen ◽  
Xiaokong Zhang ◽  
Jian Chai
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Stock Prices ◽  
Oil Price ◽  
Practical Significance ◽  
Time Points ◽  
The Impact ◽  
Over Time ◽  
China’S Economy

With growing uncertainty about the evolution of the global landscape, it is of great practical significance to explore the nonlinear dynamic adjustment relationship among the world oil market, the global bulk shipping market, the stock market, and economic growth in China. This paper applied the TVP-SV-VAR model and selected quarterly data from 1998 to 2020 to explore the dynamics. The results indicated that the impact intensity of BDI on China’s economy had a “positive” to “negative” change in different lag periods. This was mainly due to the fact that the negative impact of higher freight prices on China’s economy outweighed the positive impact of higher trade volumes on China’s economy. The impact intensity of BDI on GDP had a distinct medium- to long-term effect. A positive BDI shock had a dampening effect on stock prices in the short and medium term, while a positive BDI shock could promote stock market prosperity in the long-term perspective. The impulse responses of SSE and GDP to BDI showed that the external shipping market shocks to China’s stock market and economic growth gradually became smaller over time. For impulse response at three different time points, the impact intensity of the BDI to GDP varied at different time points, with the largest shock during the financial crisis in 2008, followed by the shock during the oil price crash in 2014, and the smallest during the COVID-19 epidemic. This demonstrated that the external shipping market’s influence on Chinese economic growth and stock market has gradually weakened over time, illustrating the enhancement of Chinese risk-resilience capacity.

Capital Market Resources as the Financial Source of Real Sector

2007 ◽  
pp. 92-103
Author(s):  
A. Dvoretskaya
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Capital Markets ◽  
Capital Market ◽  
National Economy ◽  
Banking System ◽  
Real Sector ◽  
Financial Instruments ◽  
Corporate Sector ◽  
Global Capital

The article considers capital market as a uniform institutional segment of national economy which provides funds for real sector. Special attention is paid to resources of stock market - shared and debt financial instruments. The analysis of national and global capital markets contribution to financing the corporate sector is presented. The paper outlines real competition between banking system and stock market according to capital recipients’ standpoint. The interaction mechanisms between banking and stock market sectors for effective economic growth are described.

scholarly journals Financial development and economic growth in developing countries: evidence from Saudi Arabia

2014 ◽  
Vol 11 (2) ◽  
pp. 718-742
Author(s):  
Meshaal J. Alshammary
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Capital Market ◽  
Small And Medium Enterprises ◽  
Market Development ◽  
Gdp Growth ◽  
Var Models ◽  
Real Gdp ◽  
Medium Enterprises

This study investigates the long-term and short-term relationships between capital market development and economic growth in the Kingdom of Saudi Arabia (KSA) for the period from January 1993 to December 2009. It employs a wide range of vector autoregression (VAR) models to evaluate the importance and impact of capital market development on economic growth. We used real GDP growth rates and None Oil GDP as proxies for economic growth and the stock market index (SMI), the bank credits to the private sector (BCP) and the broad money supply (M2) as proxies for the capital market development. The VAR models indicate a positive and significant long-term causal relationship between capital market development and economic growth. Granger causality tests show that economic growth Granger-cause capital market development and vice versa when using the real GDP growth rate variables. The study implications are as follows. Firstly, investment in real economic activities leads to economic growth. Secondly, the stock market might hinder economic growth due to its volatile and international risk sharing nature, low free-floating share ratio, number of listed companies and the domination of Saudi Individual Stock Trades (SIST) characteristics. Thirdly, policymakers should seek to minimise stock market volatility and fluctuations, increase both the free-floating share ratio and number of listed companies and shift investment domination toward corporate investors by considering its effect on economic growth when formulating economic policies. Fourthly, the banking sector might hinder economic growth due to its lack of small and medium enterprises lending and shareholder concentration issues. Finally, policymakers should seek to encourage banks toward more involvement in small and medium enterprises SMEs’ lending, which will strengthen the private sector role.

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