IT and Thai Stock Market Development

2011 ◽  
pp. 105-122
Author(s):  
Chollada Luangpituksa
Keyword(s):  
Economic Development ◽  
Stock Market ◽  
Computer System ◽  
Listed Companies ◽  
Financial Data ◽  
Market Development ◽  
The Internet ◽  
Trading System ◽  
Stock Market Development ◽  
Market Growth

This paper described the development of the Stock Market in Thailand since it has been established in 1975. During these thirty years the Stock Market in Thailand has introduced computer system to facilitate investors and listed companies both in financial data and administrative work. Particularly the internet trading system has been introduced to enhance market growth. This can be traced from the increasing volume of trade each day. The growth of Thai stock market has changed the structure of Thai economy and affects the economic development of Thailand.

scholarly journals The Dynamics Of Stock Market Development In Kenya

2013 ◽  
Vol 30 (1) ◽  
pp. 73 ◽  
Author(s):  
Sheilla Nyasha ◽  
N. M. Odhiambo
Keyword(s):  
Stock Market ◽  
Stock Exchange ◽  
Market Development ◽  
Regulatory Body ◽  
Trading System ◽  
Stock Market Development ◽  
Turnover Ratio ◽  
Open Outcry ◽  
Market Capitalisation ◽  
Exchange Control

This paper highlights the origin of the stock market in Kenya, and traces the reforms that have been undertaken to develop the stock market. It also highlights the growth of the Kenyan stock market, as well as the challenges currently facing the market. The country has one stock market, known as the Nairobi Securities Exchange (formerly the Nairobi Stock Exchange). It is one of Africas largest stock markets. Since the early 1980s, a number of stock market reforms have been implemented in Kenya. These include the formation of a regulatory body (Capital Markets Authority CMA) in 1989, the replacement of the "Call-Over" trading system by the floor-based "Open-Outcry System" in 1991, the reduction of listing costs, the relaxation of the exchange control for locally controlled companies, and the repeal of the Exchange Control Act. Following these reforms, Kenyas stock market has developed significantly in terms of market capitalisation, the total value of stocks traded, and the turnover ratio. Although the stock market in Kenya has developed over the years, like many other developing countries' markets, it still faces a number of wide-ranging challenges.

scholarly journals Stock Market Development on Economic Growth of South Asian and Malaysian Economies: A Comparative Analysis

2020 ◽  
Vol 4 (1) ◽  
pp. 42-46
Author(s):  
Muhammad Gias Uddin ◽  
Mohin Uddin ◽  
Sanjida Sultana Emu
Keyword(s):  
Economic Growth ◽  
Comparative Analysis ◽  
Stock Market ◽  
South Asian ◽  
Market Development ◽  
Stock Market Development ◽  
Market Growth ◽  
Turnover Ratio ◽  
Experimental Findings ◽  
South Asian Region

This analyzes concerning empirically appraise the effects and effect of stock market growth on the economic increase in two areas, in particular, South Asia and Malaysia. The researcher used market capitalization, total fee traded ratio, and turnover ratio as signs on inventory market improvement whilst GDP through a capital increase worth is back because of standardized monetary improvement. The linear dashboard facts methodology is utilized over the yearly facts about 1996-2018 according to locate out concerning the phenomenon. The effect is then compared at some stage in the countries concerning both regions. The experimental findings point out that inventory need enhancement contributes after half extent between the financial expand on the South Asian region but its impact concerning Malaysian neighborhood discovered in imitation which is very much significant.

scholarly journals Stock Market Development and Economic Development in Emerging Economies

2020 ◽  
pp. 32-43
Author(s):  
A. Ibrahim, Ayankunle ◽  
J. Emeka, Okereke ◽  
P. Ebele, Ifionu
Keyword(s):  
Economic Development ◽  
Stock Market ◽  
South African ◽  
Developing Economies ◽  
Market Development ◽  
African Countries ◽  
Causality Test ◽  
Foreign Portfolio Investment ◽  
Stock Market Development ◽  
Integration Test

This study investigated the effect of stock market development on economic development in developing economies which include Nigeria, South Africa, Angola and Kenya using time panel data between the periods 1986 to 2018. The study employed panel co-integration test, panel regression and granger causality test. We measure stock market development using all share index, market capitalization, foreign portfolio investment and total volume traded while human development index is used as a proxy for economic development. Findings reveal that stock market activities in most African countries have not significantly impacted their economic development except for few African countries which had adequate market regulations. We further find evidence to assert that activities in South African stock market significantly promote economic development in their nation when compared to other countries under investigation. Although the Nigerian stock market activities are also significant in contributing to the economic development process, but in a negative manner while Angola performs less to Nigeria and finally, Kenya stock market activities do not significantly promote economic development in their nation. As such, we recommended that adequate regulation should be implemented introduced as this will help in ascertaining a stable stock market and thereby encouraging the foreign participant to operate in the market.

scholarly journals Effectiveness of financial market as Economic Development Agents in Africa (2008-2017).

2019 ◽  
Vol 6 (10) ◽  
pp. 307-320
Author(s):  
Akinyele Akinwumi Idowu ◽  
Bosede Comfort Olopade ◽  
Yemisi Akinkuotu Adeleke ◽  
Nureni Adekunle Lawal
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Stock Market ◽  
Financial Markets ◽  
Financial Market ◽  
Banking Sector ◽  
Market Development ◽  
Financial Intermediaries ◽  
African Countries ◽  
Stock Market Development

The development in Africa’s financial sector in recent years has been remarkable. Though relatively underexplored and underinvested sector a mere decade ago, today, this sector is considered to be one of the continent’s brightest prospects. This is due to the fact that for some time now, financial sector development has been on front burners in the economic agenda of most African countries. This sector has the potential to transform the lives of millions of people across the continent. Low rate of economic development has created a lot of social stress in Africa, which is responsible for incidence and prevalence of poverty, and consequent social uprisings on a number of occasions. Various studies have examined the role of African financial market development on economic growth, but none have strictly generated a combined focus on the three major African groupings – the Southern, the Western and the Eastern African regions. This paper specifically address this void and it examines the determinant and impact of banking sector and stock market development on Africa’s economic growth and development. Various econometric techniques that include descriptive statistics, unit root tests and OLS were used to analyse data. The study finds out that local financial markets play crucial roles in economic development of Africa, albeit in varying magnitude. The study also observes that banking sector development and economic growth promote stock market development. In addition, this paper finds an interesting result in the fact that trade openness has a negative impact on stock market development, which is different from the findings of many other studies. Financial market size is also strongly related to the size of the economy. This paper has some policy implications. In order to promote banking and stock market development in the region, it is important to encourage savings by appropriate incentives, consider the possibility of one single currency for African countries in order to improve stock market liquidity and develop financial intermediaries. This paper shows an in‐depth analysis of Africa financial markets in order to assess how they can improve and benefit the global investor. In addition, it is found that financial intermediaries and stock markets are complements rather than substitutes in the growth process.

scholarly journals Stock market development and economic growth in developing countries: Evidence from Saudi Arabia

2014 ◽  
Vol 11 (3) ◽  
pp. 193-216 ◽  
Author(s):  
Meshaal J. Alshammary
Keyword(s):  
Economic Growth ◽  
Saudi Arabia ◽  
Stock Market ◽  
Causal Relationship ◽  
Listed Companies ◽  
Market Development ◽  
Stock Market Volatility ◽  
Stock Market Development ◽  
Wide Range

This study investigates the long-term and short-term relationships between stock 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 stock market development on economic growth. We used real GDP growth rates as a proxy for economic growth and the stock market index (SMI) as a proxy for the stock market development. The vector-error cointegration model (VECM) indicates a significant long-term causal relationship between economic growth and the stock market development. Granger causality tests show weak bidirectional causal relationship between stock market development and economic growth supporting the feedback view in the short run. 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.

Interest Rate, Foreign Exchange Rate, and Stock Market Development in Nigeria

2018 ◽  
Vol 9 (3) ◽  
pp. 247-253 ◽  
Author(s):  
Edward Adedoyin Adebowale ◽  
Akindele Iyiola Akosile
Keyword(s):  
Exchange Rate ◽  
Interest Rate ◽  
Stock Market ◽  
Foreign Exchange ◽  
The United States ◽  
Ordinary Least Squares ◽  
Foreign Exchange Rate ◽  
Market Development ◽  
National Bureau ◽  
Stock Market Development

This research investigated the effect of interest rate and foreign exchange rate on stock market development in Nigeria. This research was centered on two research problems. First, it was whether interest rate had a significant effect on stock market development in Nigeria. Second, it was whether foreign exchange rate had a significant impact on stock market development in Nigeria. The scope of the research covered the period from 1981 to 2017. Data for this period were chosen because it covered pre and post-liberalization periods of Nigerian financial system. This research made use of ex post facto research design. Secondary data were sourced from Nigerian Stock Exchange reports, Central Bank of Nigeria statistical bulletins, and National Bureau of Statistics publications. Data were collected on Stock Market Capitalization (SMC), Prime Lending Rate (PLR) and Real Exchange Rate (RER) (Nigerian Naira in relation to American Dollars of the United States). Data analysis was carried out with Ordinary Least Squares (OLS) and Cochrane-Orcutt Iterative techniques. The findings reveal that interest rate has a significant negative effect, and foreign exchange rate has a significant positive effect on Nigerian stock market development during the period covered. It is suggested that monetary authorities should strive to formulate policies that will make interest and foreign exchange rates stable, competitive, and at a level that will stimulate the investment of funds in the stock market.

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