Stock markets and industry growth: an Eastern European perspective
This paper reviews the recent stock market developments in Poland and the Czech Republic and provides a case-study insight into the direction of causality between stock market expansion and economic growth. It finds no evidence that the relative failure of the Czech security market affected the country's economy. It also reports that the largest equity issuers in Eastern Europe do not come from industries traditionally considered financially dependent.
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Volume (Year): 36 (2004)
Issue (Month): 10 ()
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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"Financial Dependence and Growth,"
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- Raghuram G. Rajan & Luigi Zingales, 1996. "Financial Dependence and Growth," NBER Working Papers 5758, National Bureau of Economic Research, Inc.
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University of Chicago Press, vol. 94(3), pages 461-488, June.
- Demirguc-Kunt, Asli & Maksimovic, Vojislav, 1996. "Financial constraints, uses of funds, and firm growth : an international comparison," Policy Research Working Paper Series 1671, The World Bank.
- Levine, Ross, 1991. " Stock Markets, Growth, and Tax Policy," Journal of Finance, American Finance Association, vol. 46(4), pages 1445-1465, September.
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