The effectiveness of emerging markets’ legal structure in explaining financial development
Muhammad Khalid Anser,
Muhammad Asif Khan,
Mohammed Arshad Khan
et al.
Abstract:This article examines the role of legal structure in explaining financial development in twenty-three emerging markets, which has not been explored in institutional economics literature before. This study relied on Pedroni, and Kao cointegration tests, which is followed by the renowned panel cointegration technique. The results of the Pedroni and Kao cointegration tests show that the variables understudy is cointegrated in the long-run. These findings are confirmed by the panel cointegration showing that legal… Show more
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