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Do stock markets lead to economic growth?

  • Cooray, Arusha

Augmenting the Mankiw, Romer, and Weil (1992) model with a variable for the stock market, this study finds strong support for the stock market augmented model for a cross section of 35 developing economies. In conclusion it is noted that policy measures taken to increase the size, liquidity and activity of the stock market will further enhance growth.

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Article provided by Elsevier in its journal Journal of Policy Modeling.

Volume (Year): 32 (2010)
Issue (Month): 4 (July)
Pages: 448-460

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Handle: RePEc:eee:jpolmo:v:32:y::i:4:p:448-460
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505735

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