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Interação entre o mercado acionista e o crescimento económico: Uma apreciação do caso português (1993-2010)
[Interaction between the stock market and economic growth: An assessment of the Portuguese case (1993-2010)]

  • Marques, Luís Miguel
  • Fuinhas, José Alberto
  • Marques, António Cardoso

The relationship between stock market development and domestic product are tested for Portugal in a fast economic transformation period (1993-2010). Dynamics are analyzed using a VAR model through Granger causality tests, variance decomposition and impulse-response function. Results show that stock market contributes positively to economic growth. They also conclude that banking system is not a determinant factor in economic growth. There was no causality from economic growth to the development of stock market.

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File URL: http://mpra.ub.uni-muenchen.de/39808/1/MPRA_paper_39808.pdf
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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 39808.

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Date of creation: 02 Jul 2012
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Handle: RePEc:pra:mprapa:39808
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