Title

Do stock markets lead to economic growth?

RIS ID

33228

Publication Details

Cooray, A. V. (2010). Do stock markets lead to economic growth?. Journal of Policy Modeling: A Social Science Forum of World Issue, 32 (4), 448-460.

Abstract

Augmenting the Mankiw, Romer, and Weil (1992) model with a variable for the stock market, this study finds strong support for the stock market augmented model for a cross section of 35 developing economies. In conclusion it is noted that policy measures taken to increase the size, liquidity and activity of the stock market will further enhance growth.

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Link to publisher version (DOI)

http://dx.doi.org/10.1016/j.jpolmod.2010.05.001