The impact of foreign direct investment on stock market development

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dc.contributor.authorMuhammad Shahbaz
dc.contributor.authorHooi Hooi Lean
dc.contributor.authorRukhsana Kalim
dc.date.accessioned2013-12-16T11:30:55Z
dc.date.available2013-12-16T11:30:55Z
dc.date.issued2013
dc.description.abstractDeveloping countries are witnessing changes in the composition of capital flows in their economies due to the expansion and integration of the world equity market. This paper investigates the impact of foreign direct investment on the stock market development in Pakistan. The key interest revolves around the complementary or substitution role of foreign direct investment to the development of stock market. ARDL bounds testing approach to cointegration and ECM are employed for the analysis. Our results support the complementary role of foreign direct investment to the stock market development in Pakistan. Moreover, domestic savings, income and inflation are the other macroeconomic variables that affect the development of stock market in Pakistan.en_US
dc.identifier.citationShahbaz, M., Hooi Lean, H., & Kalim, R. (2013). THE IMPACT OF FOREIGN DIRECT INVESTMENT ON STOCK MARKET DEVELOPMENT: EVIDENCE FROM PAKISTAN. Ekonomska istraživanja, 26(1), 17-32.en_US
dc.identifier.issn1331-677
dc.identifier.urihttps://escholar.umt.edu.pk/handle/123456789/867
dc.language.isoenen_US
dc.subjectStock Market Deen_US
dc.subjectForeign Direct Inen_US
dc.subjectPakistanen_US
dc.subjectComplementaryen_US
dc.subjectCointegrationen_US
dc.titleThe impact of foreign direct investment on stock market developmenten_US
dc.title.alternativeEvidence from Pakistanen_US
dc.typeArticleen_US
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