Impact of globalization on Stock market development in India
OBJECTIVE of this paper is to examine the impact of globalisation on stock market development in India using commonly recognised indicators to test this impact. India implemented significant reforms to foster development in capital markets. These reforms were brought in with the objective of improving market efficiency, transparency, and preventing unfair trade practices. Indicators used in our study are good proxies for the test of market development and deepening. Results of this study show that the stock markets in India have experienced exponential growth over the study period. Our analysis finds that all selected indicators show significant improvement in stock markets of India. After liberalisation market capitalisation ratio, value traded ratio and turn-over ratio increases and volatility ratio has declined. Our results demonstrate overall development in stock markets and operational efficiency in stock markets of India.
Delhi Business review
Banking, Finance and Investment not elsewhere classified