ECONOMIC GROWTH AND STOCK MARKET DEVELOPMENT: EVIDENCE FROM SELECTED COUNTRIES

被引：0

作者：

Dorjdagva, Odbileg ^{[1
]}

Batchuluun, Jamiyansharav ^{[2
]}

Damiran, Suvdaa ^{[1
]}

Natsagdorj, Bayantur ^{[1
]}

机构：

[1] Natl Univ Mongolia, Dept Finance, Ulaanbaatar, Mongolia

[2] Natl Univ Mongolia, Dept Appl Math, Ulaanbaatar, Mongolia

来源：

JOURNAL OF EASTERN EUROPEAN AND CENTRAL ASIAN RESEARCH | 2024年 / 11卷 / 04期

关键词：

Stock Market Development (SMD); Economic Growth (EG); Vector Auto-Regressive (VAR) model; Granger Causality (GG); unit root; cointegration; TIME-SERIES; BANKS;

D O I：

10.15549/jeecar.v11i4.1626

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

By sustaining the required capital and investment, the financial sector plays a critical role in achieving economic growth and stability. This paper conducts a comprehensive examination of the relationships between stock market development and economic growth in 11 post-socialist countries and China. Unbalanced panel data from selected countries from 1995 to 2020 were used for this study. We wanted to disclose the cointegration of crucial variables in assessing Granger causalities using the Vector Auto- Regressive (VAR) model. Our findings confirm the Neutrality Hypothesis (NLH) when we investigated the existence of an independent association between Economic Growth (EG) and the Composite Index of Stock Market Development (SMD). The study's recommendations emphasize the significance of changing economic policies to account for disparities in economic growth and stock market development to ensure sustainable development in the selected countries.

引用

页码：754 / 767

页数：14

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