ABSTRACT
Little is known about emerging Asian equity market development in general, or about the factors that governed this development. Academic studies that specifically examine equity markets in emerging Asian economies are not numerous. Most literature relates to these markets only
Other studies2 provide a static analysis of these markets and their problems at a specific date. Except for general discussions on policies that may lead to stock market development in developing countries,3 including CalderónRossell’s recent general model of stock market growth,4 the dynamics of the Southeast and East Asian emerging equity markets over the past three decades has not been comprehensively examined, a gap which this study attempts to fill.
