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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...

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Main Authors: Aman, Ameenullah, Isa, Mohamad Yazid, Mohamed Naim, Asmadi
Format: Article
Language:English
Published: SAGE Journal 2020
Subjects:
HG Finance
Online Access:http://repo.uum.edu.my/27706/1/GBS%202020%201%2016.pdf
http://repo.uum.edu.my/27706/
http://doi.org/10.1177/0972150920907206
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spelling my.uum.repo.277062020-10-08T11:28:33Z http://repo.uum.edu.my/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 http://repo.uum.edu.my/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
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Institutional Repository
url_provider http://repo.uum.edu.my/
language English
topic HG Finance
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
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.
format Article
author Aman, Ameenullah
Isa, Mohamad Yazid
Mohamed Naim, Asmadi
author_facet Aman, Ameenullah
Isa, Mohamad Yazid
Mohamed Naim, Asmadi
author_sort Aman, Ameenullah
title 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_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_sort role of macroeconomic and financial factors in bond market development in selected countries
publisher SAGE Journal
publishDate 2020
url http://repo.uum.edu.my/27706/1/GBS%202020%201%2016.pdf
http://repo.uum.edu.my/27706/
http://doi.org/10.1177/0972150920907206
_version_ 1680323130687488000
score 13.211869

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