Stock market and economic growth nexus in emerging markets: cointegration and causality analysis
by Ekrem Erdem, Onur Gozbasi, M. Fatih Ilgun, Saban Nazlioglu
International Journal of Business Forecasting and Marketing Intelligence (IJBFMI), Vol. 1, No. 3/4, 2010

Abstract: The purpose of this study is to examine the short- and long-run relationships between stock market performance and economic growth for six emerging countries (Malaysia, Turkey, Mexico, Korea, India, and Brazil). To this end, the bounds testing approach to cointegration and Granger and Toda-Yamamoto causality tests are conducted for quarterly data. The results imply that there is a close relationship between stock market performance and economic growth in the long-run and that stock market performance is an impetus for economic growth in the short-run. The key finding of this study is that the relationship between stock market performance and economic growth is sensitive to the size of stock market.

Online publication date: Tue, 12-Oct-2010

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Business Forecasting and Marketing Intelligence (IJBFMI):
Login with your Inderscience username and password:

    Username:        Password:         

Forgotten your password?


Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com