Interação entre o mercado acionista e o crescimento económico: Uma apreciação do caso português (1993-2010)

Marques, Luís Miguel and Fuinhas, José Alberto and Marques, António Cardoso (2012): Interação entre o mercado acionista e o crescimento económico: Uma apreciação do caso português (1993-2010).

Abstract

The relationship between stock market development and domestic product are tested for Portugal in a fast economic transformation period (1993-2010). Dynamics are analyzed using a VAR model through Granger causality tests, variance decomposition and impulse-response function. Results show that stock market contributes positively to economic growth. They also conclude that banking system is not a determinant factor in economic growth. There was no causality from economic growth to the development of stock market.

• Item Type: MPRA Paper
• English Title: Interaction between the stock market and economic growth: An assessment of the Portuguese case (1993-2010)
• Language: Portuguese
• Keywords: Stock Market, Economic Growth, Causality, and VAR
• Subjects: O - Economic Development, Innovation, Technological Change, and Growth > O1 - Economic Development > O10 - General; C - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes; G - Financial Economics > G1 - General Financial Markets > G10 - General

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