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Stock Markets, Banks and Economic Growth: a Reasonable Extreme Bounds Analysis

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  • Akhand, H.A.

Abstract

Do well-functioning stock markets and banks promote long-run economic growth? Recent studies answer this important question in the affirmative. This paper presents a reasonable extreme bounds analysis of the empirical relationships between the financial system and economic growth as well as the links between economic growth and the functioning of stock markets.

Suggested Citation

  • Akhand, H.A., 1999. "Stock Markets, Banks and Economic Growth: a Reasonable Extreme Bounds Analysis," Papers 99/4, New South Wales - School of Economics.
  • Handle: RePEc:fth:nesowa:99/4
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    STOCK MARKET ; BANKS ; ECONOMIC GROWTH ; ECONOMETRICS;

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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