scholarly journals The Impact of Financial Market Development on Agricultural Factor Misallocation: Household-Level Evidence from China

2021 ◽  
Vol 2021 ◽  
pp. 1-9
Author(s):  
Song Liu ◽  
Xiongzhi Wang ◽  
Mengyuan Yang ◽  
Ziling Wang
Keyword(s):  
Survey Data ◽  
Financial Market ◽  
Market Development ◽  
The West ◽  
Household Level ◽  
Empirical Results ◽  
East Region ◽  
West Region ◽  
Financial Market Development ◽  
The Impact

We study the impact of financial market development on the allocation of agricultural factors in China, using national household-level survey data from 2010 to 2014. Our empirical results show the following: (1) the prices of capital and labor are negatively distorted, whereas the price of land is positively distorted; (2) the east region of China has the lowest efficiency of agricultural factor allocation; (3) the breadth of financial market development improves the agricultural factor allocation in all three regions in China, whereas the depth of financial market development only enhances the agricultural factor allocation in the west region of China. Our study presents the very first microlevel evidence on the extent of agricultural factor misallocation in China. Moreover, our results inform policymakers’ choice of prioritizing whether the breadth or the depth of the financial market alleviates agricultural factor misallocation.

scholarly journals On the Asymmetries of Sovereign Credit Rating Announcements and Financial Market Development in the European Region

2019 ◽  
Vol 11 (23) ◽  
pp. 6636 ◽  
Author(s):  
Chunling Li ◽  
Khansa Pervaiz ◽  
Muhammad Asif Khan ◽  
Faheem Ur Rehman ◽  
Judit Oláh
Keyword(s):  
Financial Markets ◽  
Financial Market ◽  
Credit Rating ◽  
Market Development ◽  
European Region ◽  
Short Term ◽  
Sovereign Credit ◽  
Financial Market Development ◽  
The Impact ◽  
Sovereign Credit Rating

In modeling the impact of sovereign credit rating (CR) on financial markets, a considerable amount of the literature to date has been devoted to examining the short-term impact of CR on financial markets via an event-study methodology. The argument has been established that financial markets are sensitive to CR announcements, and market reactions to such announcements (both upgrading and degrading) are not the same. Using the framework of an autoregressive distributed lag setting, the present study attempted to empirically test the linear and non-linear impacts of CR on financial market development (FMD) in the European region. Nonlinear specification is capable to capture asymmetries (upgrades and downgrades) in the estimation process, which have not been considered to date in financial market literature. Overall findings identified long-term asymmetries, while there was little evidence supporting the existence of short-term asymmetries. Thus, the present study has extended the financial market literature on the subject of the asymmetrical impact of a sovereign CR on European FMD and provides useful input for policy formation taking into account these nonlinearities. Policies solely based upon linear models may be misleading and detrimental.

scholarly journals Role of International Financial Integration on Financial Market Development of Euro Area Countries

2019 ◽  
pp. 91-100
Author(s):  
Irfan Alam
Keyword(s):  
Financial Market ◽  
Euro Area ◽  
Financial Integration ◽  
Price Volatility ◽  
Share Price ◽  
Market Development ◽  
International Financial Integration ◽  
Financial Market Development ◽  
The Impact

The aim of this paper is to investigate the role of international financial integration into financial market development of Euro area countries. Annual dataset from 1998 to 2014 by using multiple regression method. The study focuses on financial integration on determining the impact on financial market development. Overall results confirming the significant positive and negative effect of international financial integration (Stock traded& share price and stock turnover ratio, respectively) while insignificant positive andnegative effect of financial integration (financial assets and liabilities and share price volatility, respectively) on financial market development. The finding provides strong evidence of achieving higher financial market development due to the drivers of financial integration.

Financial Development and Economic Growth: Analysis of Approaches to the Problem

2020 ◽  
Vol 12 (4-2) ◽  
pp. 251-266
Author(s):  
Alexander Novikov ◽  
◽  
Irina Novikova ◽  
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Financial Market ◽  
Market Development ◽  
Methodological Framework ◽  
Review Of The Literature ◽  
Financial Market Development ◽  
Points Of View ◽  
The Impact ◽  
The Relationship

The article deals with debatable questions about the relationship between economic growth and financial development. Both foreign and Russian authors have opposite points of view on the relationship between economic growth and financial development. The article states that financial development for developing countries is a factor of economic growth. The authors give a review of the literature proving the influence of financial development and its mechanism – the financial market – on economic growth. To illustrate this conclusion, they analyze the research aimed at studying the theoretical aspects of assessing the ratio of the level of financial market development and economic growth. The authors also investigate the formation of a methodological framework for assessing the impact of the level of financial market development on economic growth; identify the methods to quantitatively measure the level of financial market development and economic growth. The article analyzes the recommendations to develop measures to enhance the significance of financial market for economic growth of the country.

Financial Market Development and the Role of Foreign Bond Issuance: The Case of Australia

2009 ◽  
Author(s):  
Jonathan A. Batten ◽  
Warren P. Hogan ◽  
Peter G. Szilagyi
Keyword(s):  
Financial Market ◽  
Market Development ◽  
Financial Market Development

scholarly journals Regional implications of financial market development: Industry location and income inequality

2015 ◽  
Vol 73 ◽  
pp. 85-102 ◽  
Author(s):  
Maximilian von Ehrlich ◽  
Tobias Seidel
Keyword(s):  
Income Inequality ◽  
Financial Market ◽  
Market Development ◽  
Industry Location ◽  
Financial Market Development

Managing Risks in Financial Market Development: The Role of Sequencing

2003 ◽  
Author(s):  
Cem Karacadag ◽  
V. Sundararajan ◽  
Jennifer Elliot
Keyword(s):  
Financial Market ◽  
Market Development ◽  
Financial Market Development

Managing Risks in Financial Market Development: The Role of Sequencing

1990 ◽  
Author(s):  
Cem Karacadag ◽  
V. Sundararajan ◽  
Jennifer E. Elliott
Keyword(s):  
Financial Market ◽  
Market Development ◽  
Financial Market Development
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