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Stock markets and economic growth in oil exporting countries: evidence from Kuwait.

Bentour, El Mostafa (2014): Stock markets and economic growth in oil exporting countries: evidence from Kuwait. Published in: International Journal of Development and Sustainability , Vol. 3, No. 8 (15 August 2014): pp. 1806-1813.

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Abstract

This paper empirically investigates the role played by the Kuwait stock market on the real sector. It uses useful steps and techniques to set up a regression based on the Mankiw-Romer-Weil model to answer whether there is an eventually positive effect of the stock market developments on the real economy. The results show a positive impact of the market capitalisation on the Gross Domestic Product. The elasticity of the market capitalization to GDP is around 0.17. This impact is also confirmed by an autoregressive vector model via estimation and impulse response functions on both total and non oil GDP.

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