The Impacts of Liquidity on Stock Market Development in ASEAN – 5: A Traditional Panel Analysis
Journal Title: Scholars Journal of Economics, Business and Management - Year 2017, Vol 4, Issue 8
Abstract
Abstract:In this paper, the impacts of liquidity on stock market development in ASEAN – 5 countries are examined. By utilizing the traditional panel estimation comprise of available data from 1990 – 2014,), results of estimation from Fixed Effect Model (FEM) and Random Effects Model (REM) suggested that liquidity is a significant determinant on stock market development in ASEAN – 5. In choosing the most appropriate model, Hausman Test results confirms that REM is more appropriate to be applied. The analysis results also signify that gross domestic product (GDP) and total saving (SAV) are statistically significant at five percent confidence level. Keywords:Stock market development,Liquidity, ASEAN, panel analysis
Authors and Affiliations
MohdYushairi Mat Yusoff, Sallahuddin Hassan
Keywords
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