Financial markets and economic growth in Greece, 1986–1999

Hondroyiannis, George; Lolos, Sarantis; Papapetrou, Evangelia

doi:10.1016/j.intfin.2004.03.006

Cited by 138 publications

(77 citation statements)

References 53 publications

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“…Some of the most important studies in this area are Angelini and Cetorelli (2003) and Maudos and Fernández de Guevara (2004). 17 This index involves the econometric estimation of a total revenue function with input prices as explanatory variables. The summation of the relevant coefficients provides the value of the index.…”

Section: Concentrationmentioning

confidence: 99%

Bank-specific, industry-specific and macroeconomic determinants of bank profitability

Athanasoglou¹,

Brissimis

Delis

2008

Journal of International Financial Markets, Institutions and Mo

1,558

207

1,447

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The aim of this study is to examine the effect of bank-specific, industry-specific and macroeconomic determinants of bank profitability, using an empirical framework that incorporates the traditional Structure-Conduct-Performance (SCP) hypothesis. To account for profit persistence, we apply a GMM technique to a panel of Greek banks that covers the period 1985-2001. The estimation results show that profitability persists to a moderate extent, indicating that departures from perfectly competitive market structures may not be that large. All bank-specific determinants, with the exception of size, affect bank profitability significantly in the anticipated way. However, no evidence is found in support of the SCP hypothesis. Finally, the business cycle has a positive, albeit asymmetric effect on bank profitability, being significant only in the upper phase of the cycle.

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Section: Concentrationmentioning

confidence: 99%

Bank-specific, industry-specific and macroeconomic determinants of bank profitability

Athanasoglou¹,

Brissimis

Delis

2008

Journal of International Financial Markets, Institutions and Mo

1,558

207

1,447

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“…Os resultados encontrados corroboram com outras pesquisas que não encontraram evidências efetivas entre o desempenho do mercado de ações com a inovação tecnológica e o crescimento econômico, tais como: (ARESTIS; DEMETRIADES; LUINTEL, 2001;BECK, 2003;HOOK, 2004;ZHU, ASH;POLLIN, 2004;LEVINE, 2004;DRITSAKI;DRITSAKI-BARGIOTA, 2005;HONDROYIANNIS;LOLOS;PAPAPETROU, 2005;BEM-NACEUR;GHAZOUANI, 2007;PILO, 2012;KUOSMANEN;VATAJA, 2013;FLORACKIS, et al, 2014;AHMED;MMOLAINYANE, 2014;ODHIAMBO, 2014).…”

Section: Considerações Finaisunclassified

Análise Da Relação Entre Inovação, Mercado Acionário E Crescimento Econômico Nos Países Do Brics

et al. 2017

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Resumo:A problemática da pesquisa consiste em discutir se o mercado de ações pode ser um preditor da evolução do crescimento econômico e da inovação tecnológica e servir como um indicador econômico, para o caso dos países membros do BRICS. O objetivo desse estudo é analisar o comportamento e a relação do mercado acionário com a evolução macroeconômica, tendo como base o desenvolvimento tecnológico, através das variáveis que influenciam esses índices para o Brasil, Rússia, Índia, China e África do Sul -BRICS. Foi estipulado como referência para o quesito inovação o indicador fornecido pelo The Global Innovation Index, o GII, para o quesito crescimento econômico, o PIB real, e, para o quesito mercado de capitais, o principal índice de ações da bolsa de valores de cada país. Para analisar e relacionar essas variáveis se fez uso do coeficiente de correlação. Os resultados sugerem a rejeição da hipótese de estudo de maneira sistemática, visto que o desempenho do mercado de capitais não pode servir de indicador econômico, uma vez que não são apresentadas evidências de que seu desempenho esteja relacionado com o desempenho da economia real e da inovação tecnológica. Palavras ANALYSIS OF RELATIONSHIP BETWEEN INNOVATION, STOCK MARKET AND ECONOMIC GROWTH IN BRICS COUNTRIESAbstract: The research problem is to discuss whether the stock market can be a predictor of the evolution of economic growth and technological innovation and serve as an economic indicator for the BRICS member countries. The aim of this study is to analyze the behavior and the relationship of the stock market with macroeconomic developments, based on technology development, through the variables that influence these indices for Brazil, Russia, India, China and South Africa -BRICS. It was set as a reference for question

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“…They stress out to build the reliable financial system to experience the economic growth of the country. Hondroyiannis, et al (2005) [15] found by conducting study in Greece that the relationship between capital market and economic growth are bi-directional in the long run even though both stock market and banks can endorse economic growth but their effects are small. Ergungor (2008) stated that countries which follow inflexible judicial system have significance effect on economic growth by banking sector where in the flexible judicial system capital market has strong effect on economic growth.…”

Section: Capital Market and Economic Growthmentioning

confidence: 99%

The Impact of key Macroeconomic factors on Economic Growth of Bangladesh: a VAR Co-integration Analysis

Ali¹,

Saifullah²,

Kari³

2015

International Journal of Management Excellence

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Financial markets and economic growth in Greece, 1986–1999

Cited by 138 publications

References 53 publications

Bank-specific, industry-specific and macroeconomic determinants of bank profitability

Bank-specific, industry-specific and macroeconomic determinants of bank profitability

Análise Da Relação Entre Inovação, Mercado Acionário E Crescimento Econômico Nos Países Do Brics

The Impact of key Macroeconomic factors on Economic Growth of Bangladesh: a VAR Co-integration Analysis

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