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On Stock Market Development, Banks and Economic Growth in India

Author

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  • Pratap Chandra Biswal

    (UGC Research Fellow, Department of Economics, University of Hyderabad, Hyderabad- 500 046)

  • B. Kamaiah

    (Department of Economics, University of Hyderabad, Hyderabad-500 046.)

Abstract

This paper examines the role of stock markets and banks in promoting economic growth in India. Using the stock market development indicators viz., market size, liquidity, and volatility along with bank credit to GDP ratio as an indicator of banking sector development, and Industrial Production (IP) as the proxy for GDP, the present study shows that it is not the banking development but the stock market growth, which shares a relationship with economic growth in India during the period 1991:01–2000:05.

Suggested Citation

  • Pratap Chandra Biswal & B. Kamaiah, 2001. "On Stock Market Development, Banks and Economic Growth in India," Journal of Social and Economic Development, Institute for Social and Economic Change, Bangalore, vol. 3(1), pages 44-56, January-J.
    • Handle: RePEc:sch:journl:v:3:y:2001:i:1:p:44-56
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    Cited by:

    1. K. Siva Kiran Guptha & R. Prabhakar Rao, 2018. "The causal relationship between financial development and economic growth: an experience with BRICS economies," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 20(2), pages 308-326, October.

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