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INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016 open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15 |
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| Paper Title: | Framing a financial development index and conducting comparative analysis - between India and USA |
| Authors Name: | Gunjit Kaur |
| Unique Id: | IJSDR1907016 |
| Published In: | Volume 4 Issue 7, July-2019 |
| Abstract: | Financial market plays important role in economic development of a country. Stock market has become an important indicator to look into the prospects of a country. In the paper the author try to create a broader index which will include variables to measure the depth and efficiency of the capital and banking sector to give a complete overview about the financial development of the economy. In this paper an index is made to measure financial development of the economy by making use of different proxy variables of financial development. GDP at constant US($) 2010 is used to measure economic growth, Broad money as a percentage of GDP, domestic credit provided by financial institution as a percentage of GDP and ratio of stock market capitalization as a percentage of GDP for measuring the extent of financial efficiency and deepening. Financial time series yearly data from the period 1979-80 to 2013-14 is used. This paper tries to develop an index for two sample countries: India and USA and then try to compare the trend, pattern and degree of development in the respective economy. The paper tries to explain the trend between different business cycle with special reference to financial crises of 2007-08. The study attempts to analyse the presence of any long run relationship and granger causality between the financial development of Indian and USA market. |
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| Cite Article: | "Framing a financial development index and conducting comparative analysis - between India and USA", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.4, Issue 7, page no.84 - 90, July-2019, Available :http://www.ijsdr.org/papers/IJSDR1907016.pdf |
| Downloads: | 000337070 |
| Publication Details: | Published Paper ID: IJSDR1907016 Registration ID:190757 Published In: Volume 4 Issue 7, July-2019 DOI (Digital Object Identifier): Page No: 84 - 90 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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