Capital markets integration and economic growth in the European Union

Autor:	Lucjan T. Orlowski
Rok vydání:	2020
Předmět:	Economics and Econometrics 050208 finance 05 social sciences Debt-to-GDP ratio Equity (finance) Monetary economics Real gross domestic product 0502 economics and business Economics Systemic risk Bond market media_common.cataloged_instance Portfolio 050207 economics European union Capital market media_common
Zdroj:	Journal of Policy Modeling. 42:893-902
ISSN:	0161-8938
Popis:	This paper argues that a deeper integration of capital markets in the European Union is necessary to support accelerated economic growth. Further integrated equity and bond markets will provide access to capital funding improve the allocation of capital, help mitigate market and systemic risks, and ultimately foster a counter-cyclical, sustained real economy growth. The paper provides evidence that the increases in both total portfolio equity and debt to GDP ratios in the euro area actively contribute to real GDP growth.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::b118d36ec643d7908347f142ca62a98f https://doi.org/10.1016/j.jpolmod.2020.03.012 Zobrazit plný text záznamu Full Text from ScienceDirect