2012-16: Does law really matter for stock market development? The case of a South Pacific island economy: Fiji, 1997-2007 (Working paper)
File version
Author(s)
Nguyen, Tom
Griffith University Author(s)
Primary Supervisor
Other Supervisors
Editor(s)
Akimov, Alexandr
Date
Size
29 pages
File type(s)
Location
License
Abstract
In view of the prominent law-finance-economic growth theory and the continuing debate over it, this paper examines the applicability of the law-stock market development nexus in Fiji, an island economy in the South Pacific region, where economic growth performance has generally been considered disappointing. Results from an analysis of primary and secondary data indicate that stock market development over the 1997-2007 period has been very weak compared with 55 other developed and developing countries. The evidence does not support the frequently stated or implied proposition that strengthening legal institutions is an essential pre-requisite for furthering stock market development in Fiji. This finding may have implications for other developing economies in the South Pacific and elsewhere.
Journal Title
Conference Title
Book Title
Edition
Volume
Issue
Thesis Type
Degree Program
School
Publisher link
DOI
Patent number
Funder(s)
Grant identifier(s)
Rights Statement
Rights Statement
Copyright © 2010 by author(s). No part of this paper may be reproduced in any form, or stored in a retrieval system, without prior permission of the author(s).
Item Access Status
Note
Finance
Access the data
Related item(s)
Subject
G18 - General Financial Markets: Government Policy and Regulation
K40 - Legal Procedure, the Legal System, and Illegal Behavior: General
G28 - Financial Institutions and Services: Government Policy and Regulation
Fiji
law and finance
stock market development
shareholder rights
law enforcement quality