Stock Markets and Economic Growth : a Causality Test
Öz
This article examines causality relationships between stock markets and economic growth based on the time series data compiled from 20 countries for the years 1981 through 1994 . Sims' causality test based on Granger definition of causality was used . At first, panel data covering all countries over the entire analysis period were used to detect the direction of causation. Secondly, causal relations were investigated for each country, in isolation, using the respective time series data.
Analysis based on the panel data revealed a two-way causation between stock market development and economic growth. Country analyses, on the other hand, could not lead to precise conclusions, but suggested a somewhat stronger link between stock market development and economic growth in developing countries.
Analysis based on the panel data revealed a two-way causation between stock market development and economic growth. Country analyses, on the other hand, could not lead to precise conclusions, but suggested a somewhat stronger link between stock market development and economic growth in developing countries.
Anahtar Kelimeler
Stock Markets; Economic Growth; Causality Test
Tam Metin:
PDF (English)İndekslendiği Kaynaklar
- EconLit, 2007-
- Türkiye Makaleler Bibliyografyası, 2000-2013.
- DOAJ (Directory of Open Access Journals), 2000-
- TÜBİTAK-ULAKBİM Sosyal ve Beşeri Bilimler Veri Tabanı, 2002-
- Open Academic Journals Index (OAJI), 2000-
- ASOS (Sosyal Bilimler İndeksi), 2006-
Listeleyen Diğer Kaynaklar ve Servisler
- EBSCO Academic Search Complete, 2010-
- OpenAIRE, 2000-
- Açık Arşiv Girişimleri, 2000-
- BASE, 2000-
- Global eJournal Library (J-Gate), 2000-
- Doğuş Üniversitesi Makale Veri Tabanı, 2000-
- Doğuş Üniversitesi Akademik Arşiv Sistemi, 2000-
Lisans

Doğuş Üniversitesi Dergisi'nin içeriği Creative Commons Atıf-Gayriticari 4.0 Uluslararası Lisansı ile lisanslanmıştır.
İletişim:
Doğuş Üniversitesi DergisiAcıbadem Zeamet Sokak, No: 21
34722 - Kadıköy, İSTANBUL
E-posta: journal@dogus.edu.tr