| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 10477553 | Journal of International Money and Finance | 2005 | 22 Pages |
Abstract
We examine stock returns in a cross section of emerging and mature markets (49 countries) over the period 1980-1999. Stock returns are found to be significantly related to the degree of financial development. In general, a deeper and higher quality banking system is associated with lower volatility of stock returns and a greater synchronization in the movements of domestic and world returns. International synchronization is also greater the more liquid the stock market.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Harris Dellas, Martin Hess,