caa a22 4500 397559062 CHVBK 20180308164811.0 cr unu---uuuuu 161202e199605 xx s 000 0 eng 10.1093/wber/10.2.291 doi (NATIONALLICENCE)oxford-10.1093/wber/10.2.291 Stock Market Development and Financial Intermediaries: Stylized Facts [Elektronische Daten] [Asli Demirgüç-Kunt, Ross Levine] World stock markets are booming, and emerging stock markets account for a disproportionate share of this growth. Yet economists lack a common concept or measure of stock market development. This article collects and compares a broad array of indicators of stock market and financial intermediary development, using data from forty-four developing and industrial countries during the period from 1986 to 1993. The empirical results exhibit wide cross-country differences for each indicator as well as intuitively appealing correlations between various indicators. The article constructs aggregate indexes and analyzes them to document the relationship between the emergence of stock markets and the growth of financial intermediaries. It produces a set of stylized facts that facilitates and stimulates research into the links among stock markets, economic development, and corporate financing decisions. © 1996 The International Bank for Reconstruction and Development / THE WORLD BANK A SYMPOSIUM ISSUE ON STOCK MARKETS AND ECONOMIC DEVELOPMENT nationallicence Demirgüç-Kunt Asli aut Levine Ross aut The World Bank Economic Review Oxford University Press 10/2(1996-05), 291-321 0258-6770 10:2<291 1996 10 wber https://doi.org/10.1093/wber/10.2.291 text/html Onlinezugriff via DOI 1 other jats NATIONALLICENCE 856 40 https://doi.org/10.1093/wber/10.2.291 text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Demirgüç-Kunt Asli aut NATIONALLICENCE 700 1- Levine Ross aut NATIONALLICENCE 773 0- The World Bank Economic Review Oxford University Press 10/2(1996-05), 291-321 0258-6770 10:2<291 1996 10 wber Metadata rights reserved CC BY-NC-4.0 http://creativecommons.org/licenses/by-nc/4.0 nationallicence BK010053 XK010053 XK010000 NATIONALLICENCE NATIONALLICENCE NL-oxford