Do Transparency and Anti-Monopoly Policies Matter for Financial Development? Evidence from a Panel ARDL-PMG Approach

Do Transparency and Anti-Monopoly Policies Matter for Financial Development? Evidence from a Panel ARDL-PMG Approach

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We examine the effect of macroeconomic stability, transparent government policies, and anti-monopoly policies on financial market development using extensive panel data of 113 countries over the period 2007 to 2017.By applying ARDL-PMG and controlling for GDP, trade openness, and market size, our findings reveal that Stainless Steel Spur with 1" Band and 9 Point Rowel macroeconomic stability fosters financial market development in both developing and developed countries.Effective transparency Faber in-light Inox a70 evo+ 110.0456.215 cooker hood - A70cm policies facilitate the link between macroeconomic stability and financial market development in the long-run.

Furthermore, we find that anti-monopoly policies curb corruption and bureaucratic power to improve financial markets in the short-run.Still, a higher level of competition is more vulnerable to information asymmetry and adverse selection in the long-run.