Document Type : Original Article
Authors
1
PhD student in Public Policy, Islamic Azad University, Science and Research Department, Tehran, Iran
2
Associate Professor, Faculty of Law, Theology and Political Sciences, Islamic Azad University, Science and Research Unit, Tehran, Iran
3
Associate Professor, Faculty of Law and Political Sciences, University of Tehran, Iran
10.22034/es.2024.414684.1704
Abstract
It is important to find a common understanding of the drivers of capital market development as well as the potential impact that capital market development can have on economic growth and development. Based on this, this paper examines the comparative study of sub-components of the capital market, including gross domestic product, economic stability, financial policy, banking system and institutional investors, financial openness, protection of shareholders' rights and the rule of law in selected countries. It covers the period from 2000 to 2021, and while comparing the results between countries, the situation of Iran is also compared with other countries, which creates the basis for policy-making. The main modelling method in this paper is process and strategy. In order to investigate the development path of the capital market and the policy process for economic growth and development, a comparative comparison based on Beredy’s model is used. The results of presenting the findings of the comparative study in a comparative table, the model proposed by the researcher with the aim of developing the capital market of Iran is presented in the form of a suggested table at the end of the article.
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