THE DYNAMICS OF STOCK MARKET DEVELOPMENT IN THE UNITED STATES OF AMERICA

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Sheilla Nyasha ORCID logo, Nicholas M. Odhiambo ORCID logo

https://doi.org/10.22495/rgcv3i1c1art3

Abstract

This paper highlights the origin and development of the stock market in the United States of America. The country consists of several stock exchanges, with the three largest being the NYSE Euronext (NYX), National Association of Securities Dealers Automated Quotation (NASDAQ), and the Chicago Stock Exchange. Stock market reforms have been implemented since the stock market crash of 1929; and the exchanges responded positively to some of these reforms, but not so positively to some of the reforms. As a result of the reforms, the U.S. stock market has developed in terms of market capitalisation, the total value of stocks traded, and the turnover ratio. Although the U.S. stock market
has developed over the years, its market still faces wide-ranging challenges.

Keywords: United States of America, New York Stock Exchange Euronext, NASDAQ, Stock Market, Reforms

How to cite this paper: Nyasha, S., & Odhiambo, N. M. (2013). The dynamics of stock market development in the United States of America. Risk Governance and Control: Financial Markets & Institutions, 3(1-1), 93-102. https://doi.org/10.22495/rgcv3i1c1art3