The Brazilian Stock Market - Dimension, Structure, and Main Features

Clemente, Ademir; Taffarel, Marinês; Espejo, Robert Armando

doi:10.5772/35504

Cited by 3 publications

(5 citation statements)

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“…Brazil is the eight largest economy in the world (Clemente, Taffarel & Espejo, 2013). A long period of high inflation rate and general economic instability impacted negatively on the Brazilian stock market until mid -1990s (Clemente et al 2013). The Brazilian stock market initiated various reforms since 2003, and this was followed by an intense inflow of foreign capital.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The Brazilian stock market initiated various reforms since 2003, and this was followed by an intense inflow of foreign capital. These have grown the stock market (Bovespa) to the fifth Bourse in the world in terms of foreign investors' participation (Clemente et al, 2013) Many studies have examined the nexus between stock market development and economic growth in Russia. El Wassai (2005) investigated the impact of stock market development using indicators such as market capitalization, turnover ratio and value of shares traded on the economic growth for Russia.…”

Section: Literature Reviewmentioning

confidence: 99%

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Impact of Stock Market Development on Economic Growth in BRICS

Osaseri¹,

Osamwonyi²

2018

IJFR

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The study examines Stock Market development and economic growth in BRICS, Quarterly time series data for the period 1994QI to 2015Q4 were sourced from World Bank Indicator. The Panel Least Squares based on the fixed effect estimation was employed to determine how stock market development impacts on the economic growth of BRICS. Diagnostics tests were conducted to ascertain the robustness and stability of the regression results. The findings reveal that stock market development exerts significant impact on the economic growth. The study revealed that there is a positive correlation between stock market development indicators and BRICS’s economic growth. The study recommends that the weakness of each of the BRICS member country should be taken as policy focus and strategies necessary to strengthen them should be swiftly applied by the governments.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Impact of Stock Market Development on Economic Growth in BRICS

Osaseri¹,

Osamwonyi²

2018

IJFR

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“…Comparing the stock markets of the United Kingdom and Brazil in this context, it should be noted that the United Kingdom is a striking example of the most developed stock market in Europe, while the stock market of Brazil is one of the most developed among developing countries. The United Kingdom is a developed country with an effective functioning of the financial sector of the economy, which uses a mono-regulatory model (Ademir Clemente and Espejo 2012;Batabyal and Robert 2021;Igor and Blokhina 2016;Kutuzova 2015;Nyasha and Odhiambo 2013). It consists in the fact that there is a single state authority that regulates the activities of all financial intermediaries without exception (Investing 2021).…”

Section: Development Of the Stock Market In Russiamentioning

confidence: 99%

Methodological Foundations of the Risk of the Stock Markets of Developed and Developing Countries in the Conditions of the Crisis

Burkaltseva

Niyazbekova

Borsch

et al. 2021

JRFM

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The development of a methodology for the growth of the stock market through a deep transformation of the economic development system and introduction of digital technologies. The article is devoted to the study of the development of stock markets’ actual problems that affect the redistribution of capital between sectors of the economy by using tools and mechanisms between the financial and stock markets. The purpose of the study is to improve the regulatory segment of the stock market in order to further develop stock exchanges, integrate them into the global economic system, and attract investment in the economy. To achieve the goal, the following tasks were performed: the development of the London Stock Exchange was analyzed and the profit growth was determined; a comparative capitalization of the main stock instruments was carried out; internal factors of influence on the stock market were determined. The problem of the international stock market in all countries with emerging markets, first of all, lies in the improvement of the institutional environment, which is a prerequisite for the stability of the stock market. To analyze the development of stock markets, natural technical sciences were used to identify objective patterns, and determine the state and motives, using various methods and techniques: logic, generalizations, specific methods of cognition, comparison, and graphics. In the development of the stock market, the economy establishes certain natural actions in the real sector of the economy through a regulatory system of measures, and the needs of investments in the real sector of the economy, methods, and tools are used to achieve the desired results. Statistical, analytical, and dynamic methods were used. The essential foundations of the importance of stock markets and the economy are revealed; we discuss the penetration of knowledge and the conduction of a deep transformation through the introduction of digital technologies in all spheres of the economy, including the transformation of the development of the stock and financial markets nowadays. Results. The assessment of the state of securities markets in developed and developing countries is made on the example of the largest stock exchanges in Brazil and the United Kingdom. The features of the effective functioning of stock markets are revealed. The hypothesis is put forward about the insufficiency of research on the stock market of developed and developing countries and the mechanisms used having an insufficient impact on the development of the economy. From this point of view, an analysis of the dynamics of the current state of the issuers’ number and the dynamics of profitability of developed markets is carried out, the comparative capitalization volumes of the stock markets of Great Britain and Brazil are evaluated, and the weaknesses of their functioning are identified. Conclusions. The conducted research shows that countries, where stock markets are successfully functioning and developing, are catalysts for economic development and the accumulation of funds. Each country applies models of stock market development and a strategy for its regulation in accordance with the concept of a functioning market and its maturity.

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“…For instance, the stock market of Brazil constitutes an efficient mechanism for allocating resources. Historically, a long period of high inflation rate and general economic instability exerted serious negative effects on the Brazilian stock market until the mid-1990s (Clemente et al, 2012). The Brazilian stock market fostered by the economic and political stability appeared to have initiated what could be described as a vigorous pattern of growth since 2003; and this is followed by an intense inflow of capital from abroad.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Brazil is the eight largest economy in the world (Clemente et al, 2012). The stock market plays a key role in its economic development.…”

Section: Literature Reviewmentioning

confidence: 99%

Stock market development and economic growth of Brazil, Russia, India, China and South African (BRICS) Nations: An empirical research

Ogbeide¹,

Akanji²

2018

10.5267/j.ac

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South Africa are particularly distinguished as nations experiencing expanded market opportunities and countries discovered to be at stages of newly advanced economic development. This paper assesses the stock market development and economic growth in these BRICS nations. In doing this, quarterly time series data from 1994 to 2014 was sourced from World Bank Indicators. The Panel Generalized method based on the fixed effect estimation was employed to determine how stock market development affects the economic growth of BRICS. Diagnostic tests were conducted to ascertain the robustness and stability of the regression results after carrying out the unit root calculations. The findings reveal that stock market development exerts significant impact on the economic growth. The study further reveals that there was a positive correlation between stock market development indicators and BRICS's economic growth. It is therefore proposed that the weaknesses of each of the BRICS member countries should be taken as policy focus and strategies necessary to strengthen them should be swiftly applied by their respective governments.

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The Brazilian Stock Market - Dimension, Structure, and Main Features

Cited by 3 publications

References 5 publications

Impact of Stock Market Development on Economic Growth in BRICS

Impact of Stock Market Development on Economic Growth in BRICS

Methodological Foundations of the Risk of the Stock Markets of Developed and Developing Countries in the Conditions of the Crisis

Stock market development and economic growth of Brazil, Russia, India, China and South African (BRICS) Nations: An empirical research

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