Stock market and economic growth nexus in emerging markets: cointegration and causality analysis

Autor:	Onur Gozbasi, Saban Nazlioglu, Ekrem Erdem, M. Fatih Ilgün
Rok vydání:	2010
Předmět:	Economic indicator Cointegration Close relationship Financial economics Stock market bubble Economics Stock market Emerging markets Nexus (standard) Causality
Zdroj:	International Journal of Business Forecasting and Marketing Intelligence. 1:262
ISSN:	1744-6643 1744-6635
DOI:	10.1504/ijbfmi.2010.036008
Popis:	The purpose of this study is to examine the short- and long-run relationships between stock market performance and economic growth for six emerging countries (Malaysia, Turkey, Mexico, Korea, India, and Brazil). To this end, the bounds testing approach to cointegration and Granger and Toda-Yamamoto causality tests are conducted for quarterly data. The results imply that there is a close relationship between stock market performance and economic growth in the long-run and that stock market performance is an impetus for economic growth in the short-run. The key finding of this study is that the relationship between stock market performance and economic growth is sensitive to the size of stock market.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::d21402aced34116863bf8a0a6e1fcf12 https://doi.org/10.1504/ijbfmi.2010.036008 Zobrazit plný text záznamu