Stock Market Development and Economic Growth: Evidences from Egypt

Badr, Osama M.

doi:10.7763/ijtef.2015.v6.450

Cited by 9 publications

(11 citation statements)

References 19 publications

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“…In the case of Egypt, Badr (2015) found no causal relationship between stock market development and economic growth.…”

Section: Abbs Financial Marketsmentioning

confidence: 90%

Relationship between Stock Index and National Economy In India:An Empirical Analysis

Mishra

2016

AMBER

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It has been accepted that developed capital markets are able to mobilize domestic savings and able to allocate funds more efficiently. Thus, stock markets can play a role in inducing economic growth in emerging market economies like India. Thus, this paper is an attempt to investigate the causal relationship between the stock index and the national economy in the context of India over the period 2006 to 2015 using the Toda-Yamamoto approach. The empirical findings provide the evidence of unidirectional causality running from real economic growth to stock market in India over the entire observation period. This finding is significant for the policy makers of the country. Plans and policies should be formulated such that the demand side factors are made influential. This would necessitate higher resource mobilization and thus, contribute to the development of stock market of the country.

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“…In the case of Egypt, Badr (2015) found no causal relationship between stock market development and economic growth.…”

Section: Abbs Financial Marketsmentioning

confidence: 90%

Relationship between Stock Index and National Economy In India:An Empirical Analysis

Mishra

2016

AMBER

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“…Luintel and Khan (1999), Magid (2007), Hongbin (2007), and Dawson (2008) were among the studies whose results synchronized with the findings of category (iv) and were among the results of some of the studies (that supported the existence of bi-directional or feedback causality between SMD and EG). Badr (2015) investigated the relationship between SMD and Egyptian EG using the Vector Auto-Regressive Granger causality test and discovered that SMD alone cannot promote EG. The study included a control variable (foreign direct investment) in the econometric model and established a causal relationship between SMD and EG.…”

Section: Literature Review Stock Market Performance and Economic Growthmentioning

confidence: 99%

Has Stock Market Development Engendered Short and Long-Run Inclusive Growth in Nigeria?

Ishioro

Tarurhor

2022

Financ. account. res. j.

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This study examines the impact of capital market performance on economic growth. Time series data obtained from the official publications of the Securities Exchange Commission, Nigerian Stock Exchange and Central Bank of Nigeria were analyzed using regression estimation technique, in which we related the proxies of stock market performance indicators (such as stock market capitalization, value of new issues and value of shares traded) to economic growth (represented by the Gross Domestic Product). Results show that both market capitalization and the value of new issues have a positive relationship with economic growth while value and the volume of shares traded had negative relationships with economic growth . It was therefore recommended that the stock market should be made more liquid in order for turnover rate to increase. This will boost investors' confidence and awareness and would make funds available for long-term development of the industrial sector and the economy. Keywords: Stock Market Development, Long-Run, Inclusive Economic Growth.

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“…While two of indices exhibited positive impact, the two others were inversely related to economic growth. Accordingly, Bader (2015) concluded that there is no causal relationship between stock market development and economic growth in Egypt. In like manner, Khetsi and Mongale (2015) found a positive relationship between capital market development and economic growth in South Africa.…”

Section: Review Of Related and Empirical Literaturementioning

confidence: 99%

Capital Market Development and Economic Growth: An Ardl Approach for Saudi Arabia, 1985–2018

Algaeed

2020

Journal of Business Economics and Management

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The aim of this paper is to analyze and test the effects of capital market development on the per-capita GDP growth in Saudi Arabian economy covering the period of 1985-2018. An ARDL, FMOLS and Johansen tests are implemented. The stock market indicators: share price index, capitalization, liquidity, number of share transactions, and number of shares are employed using a log-linear eclectic model designed to fit the availability of data. Capitalization and liquidity came up with negative signs, contrary to the findings of lots of studies in economic literature. However, the share price index, number of shares traded, and the ratio of number of share transactions had the right signs as expected a priori. The findings raise serious questions about the size of the market, the steps and efforts that have been taken to deepen the capital market and their consequences on the function and potency of capital market in fostering per-capita GDP growth. Applying Granger causality test, share price index, market capitalization and number of shares traded do not granger cause per-capita GDP. They are significant at 5 percent level. Capital market authority (CMA) should draw a road map to accelerate deepening the capital market in order to serve economic growth.

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Stock Market Development and Economic Growth: Evidences from Egypt

Cited by 9 publications

References 19 publications

Relationship between Stock Index and National Economy In India:An Empirical Analysis

Relationship between Stock Index and National Economy In India:An Empirical Analysis

Has Stock Market Development Engendered Short and Long-Run Inclusive Growth in Nigeria?

Capital Market Development and Economic Growth: An Ardl Approach for Saudi Arabia, 1985–2018

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