公司治理，股市发展与民营资本积累：以印度为例 Corporate Governance, Stock Market Development and Private Capital Accumulation A Case Study of India.pptVIP

The estimates of the long-term coefficients show no relationship between private fixed capital formation (as percentage of GDP) and stock market variable, turnover ratio or number of listed firms. Next we have extended the ARDL analysis to accommodate the important indicator of financial development – bank deposit as percentage of GDP (BDGDP) or domestic credit to the private sector as percentage of GDP (PCRGDP). The relevant data is available from the Financial Structure Dataset of World Bank over the period, 1976-2005. Including this variable in the ARDL equation (current and past valu