The relationship between real sector performance and the financial sector has attracted many studies. While there is a relative consensus among economists on the effect of the export earnings of natural resources and financial development in the banking sector. But the More
The relationship between real sector performance and the financial sector has attracted many studies. While there is a relative consensus among economists on the effect of the export earnings of natural resources and financial development in the banking sector. But the stock market has not been seen as the main backbone of capital market activities in pursuit of sustained and sustained economic growth, especially in countries rich in natural resources. In this paper, the relationship between the multi-dimensional index of financial development in the stock market (which is extracted using principal component decomposition method) and the abundance of natural resources in selected OPEC members selected from oil and gas in the years 2000 to 2016 It checks the panel data method.The research findings indicate that there is a positive and significant relationship between financial development in the stock market and the income from resource exports. Also, the model estimation indicates the negative impact of inflation and the positive effect of government size and the degree of openness of the economy on the development of the stock market.
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