Dependent Variables | |||||||
Call Bid-Ask Spread | (1) | (2) | (3) | (4) | (5) | ||
Put Bid-Ask Spread | (6) | (7) | |||||
Volume | |||||||
Open Interest | |||||||
Implied Volatility | |||||||
Independent Variables | |||||||
GDP | −1.12e−10** | 0.0000127 * | −6.49e−12** | ||||
(4.09e−11) | (5.72e−06) | (6.28e−13) | |||||
Economic Freedom | −3.301068* | −1.459117** | |||||
(1.885611) | (0.6112409) | ||||||
Freedom from Corruption | −1.668924 *** | ||||||
(0.4237151) | |||||||
Market Capitalization of Listed Domestic Companies | 9.25e−11** | −2.66e−12** | |||||
(1.00e−12) | (6.75e−13) | ||||||
Stocks Traded, Turnover Ratio of Domestic Shares (%) | −8.45e−11** | 9.34e−12** | |||||
(2.49e−12) | (5.99e−13) | ||||||
Stocks Traded, Total Value | −0.0116885 | ||||||
(0.00277668) | |||||||
Public Debt % Of GDP | 0.450316* | ||||||
(0.2836016) | |||||||
GDP per capita | 0.0009507** | 0.000087* | |||||
(1.90e−11) | (0.0001411) | ||||||
Constant | −6,738,532** | 2.394379 | −13.95679 | 252.1953 | 148.1147*** | −4,780,632** | 1,146,772** |
(108,099) | (3.241566) | (16.2758) | (85.36659) | (35.62484) | (156,474) | (4,343,483) |