Stock market development and economic growth: Evidence from the European union

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F16%3A43910260" target="_blank" >RIV/62156489:43110/16:43910260 - isvavai.cz</a>

Výsledek na webu

<a href="https://acta.mendelu.cz/64/6/1927/" target="_blank" >https://acta.mendelu.cz/64/6/1927/</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.11118/actaun201664061927" target="_blank" >10.11118/actaun201664061927</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Stock market development and economic growth: Evidence from the European union

Popis výsledku v původním jazyce

The paper examines the causal relation between the stock markets development and economic growth in the EU countries. In particular, the nature and causality direction is investigated. Panel data techniques including cointegration tests, vector error correction models and Granger causality tests were applied to indicate the nature and direction of causality. Long-run effects of the economic growth upon stock market development was detected in the sample of the Euro area member countries. In addition, the short-run mutual relations between growth and stock markets were indicated in that country-sample. In the non-Euro area countries, only short-run impact of the stock market development upon economic growth was found. The empirical findings bring up implications for macroeconomic stabilization and development policies. The indicated relations also play a role in predicting economic growth and stock markets' development.

Název v anglickém jazyce

Stock market development and economic growth: Evidence from the European union

Popis výsledku anglicky

The paper examines the causal relation between the stock markets development and economic growth in the EU countries. In particular, the nature and causality direction is investigated. Panel data techniques including cointegration tests, vector error correction models and Granger causality tests were applied to indicate the nature and direction of causality. Long-run effects of the economic growth upon stock market development was detected in the sample of the Euro area member countries. In addition, the short-run mutual relations between growth and stock markets were indicated in that country-sample. In the non-Euro area countries, only short-run impact of the stock market development upon economic growth was found. The empirical findings bring up implications for macroeconomic stabilization and development policies. The indicated relations also play a role in predicting economic growth and stock markets' development.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

—

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2016

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis

ISSN

1211-8516

e-ISSN

—

Svazek periodika

64

Číslo periodika v rámci svazku

6

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

10

Strana od-do

1927-1936

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-85008599117