Stock Market Development And Economic Growth: The Case Of Mauritius

Abstract

ABSTRACT

Stock Market Development and Economic Growth: An Empirical Analysis of Zimbabwe (1989-2014)

“…a widely used and adopted indicator for stock market size is stock market capitalization as a ratio to GDP as used by Nowbutsing (1999), and Van Nieuwerburgh et al (2005). This variable measures the ratio of market capitalization to GDP and is expected to be positive and significant.…”

Stock Market Development and Economic Growth in Zimbabwe

“…Stock Market Size (MCGDP): A widely used indicator for stock market size is stock market capitalisation (measured as the total value of listed shares) as a ratio to GDP [see Nowbutsing (1999), Van Nieuwerburgh et al (2005)]. This captures the organised trading of company stocks as a proportion of national output and should thus be positively related with economic growth.…”

A Note on Relationship between Economic Activity and Stock Market Development: a Case of Euro Area Countries

“…The outcomes of employed tests indicated all variations of results: one-way relationship coming from stock market development to economic development (e.g. as in Beck and Levine, 2004;Nieuwerburgh et al, 2006;Nowbutsing and Odit, 2009;Tang, 2013;Gazdar and Cherif, 2015;Georgantopoulos et al, 2015 among others), one-way relationship coming from economic growth to stock market development (e.g. see Dritsaki and Dritsaki-Bargiota, 2005;Liu and Sinclair, 2008), mutual relationship (similar as e.g.…”

“…There is a prevailing amount of papers concluding that stock markets have impact on economic activity, e. g. Atje and Jovanovic (1993), Mauro (2003), Beck and Levine (2004), Nieuwerburgh et al (2006), Nowbutsing and Odit (2009), Panopoulou (2009), Nayaran and Nayaran (2013, Tang (2013), Cavenaile et al (2014), Prahdan et al (2014), Gazdar and Cherif (2015), Georgantopoulos et al (2015) or Prahdan et al (2015). Levine and Zevros (1998) find some variables not significant, but stock market liquidity is positively associated with contemporaneous and future growth rates.…”