The role of macroeconomic and financial factors in bond market development in selected countries
Both developed and developing economies have showed serious interest in the development of domestic and regional bond markets. This interest was motivated by the recurrent events of economic crises, due to the over-reliance on the banking system. Therefore, this study investigates the macroeconomic...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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SAGE Journal
2020
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| Online Access: | https://repo.uum.edu.my/id/eprint/27706/1/GBS%202020%201%2016.pdf |
| _version_ | 1825805672656142336 |
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| author | Aman, Ameenullah Isa, Mohamad Yazid Mohamed Naim, Asmadi |
| author_facet | Aman, Ameenullah Isa, Mohamad Yazid Mohamed Naim, Asmadi |
| author_sort | Aman, Ameenullah |
| collection | UUM |
| description | Both developed and developing economies have showed serious interest in the development of domestic and regional bond markets. This interest was motivated by the recurrent events of economic crises, due to the over-reliance on the banking system. Therefore, this study investigates the macroeconomic and financial determinants of a bond market development, since the economic and financial environments play a primary role in the development of any financial market. Panel data analysis is employed to investigate the potential relationships. Results identify that financial system and most of the macroeconomic factors are positively associated with a bond market development. However, the stage of economic development is negatively related to bonds. Hence, policymakers need to strengthen and use existing financial system and economic variables to provide reasonable support to the development of bond markets. This study empirically analyses some unexplored theoretical relationships with respect to a bond market. |
| first_indexed | 2024-07-04T06:36:04Z |
| format | Article |
| id | uum-27706 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:36:04Z |
| publishDate | 2020 |
| publisher | SAGE Journal |
| record_format | eprints |
| spelling | uum-277062020-10-08T11:28:33Z https://repo.uum.edu.my/id/eprint/27706/ The role of macroeconomic and financial factors in bond market development in selected countries Aman, Ameenullah Isa, Mohamad Yazid Mohamed Naim, Asmadi HG Finance Both developed and developing economies have showed serious interest in the development of domestic and regional bond markets. This interest was motivated by the recurrent events of economic crises, due to the over-reliance on the banking system. Therefore, this study investigates the macroeconomic and financial determinants of a bond market development, since the economic and financial environments play a primary role in the development of any financial market. Panel data analysis is employed to investigate the potential relationships. Results identify that financial system and most of the macroeconomic factors are positively associated with a bond market development. However, the stage of economic development is negatively related to bonds. Hence, policymakers need to strengthen and use existing financial system and economic variables to provide reasonable support to the development of bond markets. This study empirically analyses some unexplored theoretical relationships with respect to a bond market. SAGE Journal 2020 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/27706/1/GBS%202020%201%2016.pdf Aman, Ameenullah and Isa, Mohamad Yazid and Mohamed Naim, Asmadi (2020) The role of macroeconomic and financial factors in bond market development in selected countries. Global Business Review. pp. 1-16. ISSN 0972-1509 http://doi.org/10.1177/0972150920907206 doi:10.1177/0972150920907206 doi:10.1177/0972150920907206 |
| spellingShingle | HG Finance Aman, Ameenullah Isa, Mohamad Yazid Mohamed Naim, Asmadi The role of macroeconomic and financial factors in bond market development in selected countries |
| title | The role of macroeconomic and financial factors in bond market development in selected countries |
| title_full | The role of macroeconomic and financial factors in bond market development in selected countries |
| title_fullStr | The role of macroeconomic and financial factors in bond market development in selected countries |
| title_full_unstemmed | The role of macroeconomic and financial factors in bond market development in selected countries |
| title_short | The role of macroeconomic and financial factors in bond market development in selected countries |
| title_sort | role of macroeconomic and financial factors in bond market development in selected countries |
| topic | HG Finance |
| url | https://repo.uum.edu.my/id/eprint/27706/1/GBS%202020%201%2016.pdf |
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