Stock prices are determined in the financial markets. Management's primary goal is to maximize the firm's stock price, so financial managers need to understand how these markets operate in order to make good decisions. In addition, individuals make personal investment decisions so they too must understand how the financial markets operate and have some knowledge of the institutions that operate in these markets. In a global context, economic development is______________ correlated with the level and efficiency of financial markets and institutions.

A) hardly

B ) not

C )highly