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Cross-countries capital markets development analysis in framework of dynamic panel models (CROSBI ID 561226)

Prilog sa skupa u zborniku | izvorni znanstveni rad | međunarodna recenzija

Arnerić, Josip ; Škrabić, Blanka ; Erjavec, Nataša Cross-countries capital markets development analysis in framework of dynamic panel models // Proceedings of the 10th International Symposium on Operational Research (SOR'09) / Strin, Zadnik Lidija. ; Žerovnik, Janez ; Drobne, Samo et al. (ur.). Ljubljana: Slovensko društvo informatika, 2009. str. 301-310

Podaci o odgovornosti

Arnerić, Josip ; Škrabić, Blanka ; Erjavec, Nataša

engleski

Cross-countries capital markets development analysis in framework of dynamic panel models

Financial development has the major role in economic growth of Central and Eastern European emerging countries, which is emphasized in the period after their political and structural changes. Together with the processes of Europeanization and the accession driven reforms, foreign direct inflows and portfolio investments resulted in transforming the banking sector and in creating and developing capital markets, particularly in emerging countries. Therefore, this paper deals with capital markets development analysis of the CEE emerging countries, which are still more bank-based. Empirical results will show which macroeconomic variables affects capital market development in these countries. Moreover, capital market development from emerging countries and developed countries will be compared. Dynamic panel models will be specified as the most appropriate ones to fit the observed data. Parameters of the panel data models will be estimated using GMM method proposed by Arellano and Bond with one lag of dependent variable. For instruments in the panel data model a maximum of two lags of the dependent variables will be used.

capital market development; dynamic panel model; Arellano and Bond estimators

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Podaci o prilogu

301-310.

2009.

objavljeno

Podaci o matičnoj publikaciji

Proceedings of the 10th International Symposium on Operational Research (SOR'09)

Strin, Zadnik Lidija. ; Žerovnik, Janez ; Drobne, Samo ; Lisec, Anka

Ljubljana: Slovensko društvo informatika

978-961-6165-30-3

Podaci o skupu

International Symposium on Operational Research in Slovenia (10 ; 2009)

predavanje

23.09.2009-25.09.2009

Nova Gorica, Slovenija

Povezanost rada

Ekonomija