مجلة نماء للإقتصاد والتجارة
Volume 5, Numéro 2, Pages 91-106
2021-12-31

تأثير تحرير حساب رأس المال على أداء أسواق الأوراق المالية للدول الناشئة دراسة قياسية لعينة من أسواق الدول الناشئة للفترة (1990-2018)

الكاتب : بوسعدية مراد . علاوي محمد لحسن .

الملخص

Abstract: The study aimed to analyse the impact of capital account liberalization on the performance of stock markets emerging for a sample of 06 countries for the period (1990-2018) using the panel models, by employing the chinn-ito index (Kaopen) of financial openness (Journal of Development Economics, 2006) as a proxy to measuring capital account liberalization, and market capitalization, traded value and turnover ratio as a proxies indices to measuring emerging stock markets performance which are issued by world development indicators. The study found that there is a positif and significant effect for capital account liberalization on the performance of emerging stock markets, and a positif and significant effect of bank credit to the private sector on the market capitalization, while there is a negatif and an insignificant of both inflation and the exchange rate on the performance of emerging stock markets of the countries under stydy.

الكلمات المفتاحية

Capital account liberalization ; KAOPEN Index ; Stock Markets Performance ; Panel Models ; Emerging Countries