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Stock Markets: A Catalyst for Economic Growth

Author

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  • Najeb M.H. Masoud

    (Development of Financial and Economic Growth, Developing Markets in MEANA)

Abstract

The stock market is a common feature of a current economy and it is reputed to achieve some necessaryfunctions, which promote the growth and development of the economy. To achieve this objective, the endogenous growth literature and research, and recent theoretical studies have tried to provide a link between the literature of endogenous growth theory and financial markets. Providing evidence of stock market development will assist policy makers in designing reforms that do indeed promote the growth rate, enhancing stock market development as economic growth through to the banking system of financial sectors, and to the degree of investor’s right; furthermore, allowing risk sharing encourages speculative and productive investment (see, e.g. Greenwood and Jovanovic (1990) and Bencivenga and Smith (1991)). The results of the previous study, which establishedpositive links between the stock market and economic growth, suggests the pursuit of policies geared towards rapid development of the stock market.

Suggested Citation

  • Najeb M.H. Masoud, 2013. "Stock Markets: A Catalyst for Economic Growth," International Journal of Finance & Banking Studies, Center for the Strategic Studies in Business and Finance, vol. 2(4), pages 13-29, October.
  • Handle: RePEc:rbs:ijfbss:v:2:y:2013:i:4:p:13-29
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    Cited by:

    1. Godfrey Osaseri & Ifuero Osad Osamwonyi, 2019. "Impact of Stock Market Development on Economic Growth in BRICS," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(1), pages 23-30, January.

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