The DOI matches its Crossref record; 5 of the 5 references it cites were found in a registry or an index.
Stock Market Development and Long-Run Growth
Abstract
Is the financial system important for economic growth? One line of research argues that it is not; another line stresses the importance of the financial system in mobilizing savings, allocating capital, exerting corporate control, and easing risk management. Moreover, some theories provide a conceptual basis for the belief that larger, more efficient stock markets boost economic growth. This article examines whether there is a strong empirical association between stock market development and long-run economic growth. Cross-country growth regressions suggest that the predetermined component of stock market development is positively and robustly associated with long-run economic growth.
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Cites
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Cited by
Does financial liberalization spur growth?
BEKAERT, G., HARVEY, C., & LUNDBLAD, C. (2005) · Journal of Financial Economics · doi:10.1016/j.jfineco.2004.05.007 · Cited by 2,012
Financial Development and Economic Growth: Assessing the Evidence
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Equity markets and growth: Cross-country evidence on timing and outcomes, 1980–1995
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Financial Structure and Economic Growth
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Macroeconomic Determinants of Stock Market Development
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Pradhan, R. P., Arvin, M. B., Hall, J. H., & Bahmani, S. (2014) · Review of Financial Economics · doi:10.1016/j.rfe.2014.07.002 · Cited by 184
Financial development, institutional investors, and economic growth
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Do stock markets lead to economic growth?
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Acharya, V. V., Imbs, J., & Sturgess, J. (2011) · Review of Finance · doi:10.1093/rof/rfq009 · Cited by 58
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(2013) · Asian Economic and Financial Review · Cited by 34
Is too much liquidity harmful to economic growth?
Chu, L. K., & Chu, H. V. (2020) · The Quarterly Review of Economics and Finance · doi:10.1016/j.qref.2019.07.002 · Cited by 18
Financial Intermediation and Growth: Bank-Based versus Market-Based Systems
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How Stock Market Liquidity Impact Economic Growth in South Africa
Chipaumire, G., & Ngirande, H. (2014) · Journal of Economics · doi:10.1080/09765239.2014.11884995 · Cited by 16
Financial development and economic growth in Sub-Saharan Africa using system GMM analysis
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Metadata
- Authors
- Levine, R., & Zervos, S.
- Venue
- The World Bank Economic Review
- Publisher
- Oxford University Press (OUP)
- Published
- 1996-05-01
- Volume
- 10
- Issue
- 2
- Pages
- 323-339
- ISSN
- 0258-6770 (ISSN-L)
- 1564-698X
- OpenAlex
- W3124550292
- Cited by
- 1,083
- References
- 5
- FWCI
- 27.23
- Type
- journal article
- Language
- en
- Open access
- closed
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
