Abstract:This study intends to examine the nature & direction of relationship between stock market movements, particularly market decline, and its liquidity in 14 selected emerged and emerging economies (G8+5 and Pakistan) for January 2001 through December 2017 by applying Autoregressive Distributed Lag (ARDL) Bounds test and Granger-causality test. Trading value and turn over ratio are employed to measure market liquidity. Results of trading value Granger-causality test highlight the evidence of no causality in Ge… Show more
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