Title: Information communications technology penetration and stock markets - growth nexus: from cross country panel evidence
Authors: Rudra P. Pradhan; Girijasankar Mallik; Tapan P. Bagchi; Manoranjan Sharma
Addresses: Vinod Gupta School of Management, Indian Institute of Technology, Kharagpur 721302, India ' School of Business, Parramatta Campus, Western Sydney University, NSW 1797, Australia ' Indian Institute of Management, Lucknow 226013, India ' Canara Bank, New Delhi, India
Abstract: The study assesses the long run and causal relationship amongst three variables, namely, ICT penetration, stock markets development, and per capita economic growth in the emerging and growth-leading economies (EAGLEs) as evidenced between 1988 and 2012. Using panel cointegration technique, this study found that the variables under study are cointegrated and there exists a long run relationship among these variables. Furthermore, using vector error correction modelling (VECM) technique and Granger causality this study found that Granger causality exists among these variables both in the short run and in the long run although the exact nature of the results vary for the select ICT penetration indicators in use within the EAGLEs.
Keywords: ICT penetration; stock markets development; per capita economic growth; panel VECM.
International Journal of Services Technology and Management, 2018 Vol.24 No.4, pp.307 - 337
Available online: 14 Jun 2018 *Full-text access for editors Access for subscribers Purchase this article Comment on this article