[PDF] Top 20 Financial Depth, Stock Markets and Economic Growth in the EU-15 countries

... upon the degree and role of finance in economy, many authors noticed the apparent lack of importance of financial depth in growth, especially when considering ... See full document

... have the purpose of investigating if there is a relation between representative variables of the financial system development and economic growth, measured as GDP growth, ... See full document

... Baltic countries real GDP growth rates were the highest ones in all European Union estimating the growth of 7-8% rate on ...FDI in all countries. However the ... See full document

... uses the legal determinants of banking development as instrumental variables for financial intermediation indicators to control for simultaneity ...of financial development on economic ... See full document

... shocks in specific countries which affect the fundamentals of other countries and 3) shocks which are not explained by fundamentals and which they termed pure ...contagion. ... See full document

... extend the index developed by Kaminsky and Schmukler, 2003, for a specific sample of countries, namely, the previously centrally planned economies from Central and Eastern Europe, ... See full document

... In the 1980s, the McKinnon and Shaw framework was criticized on the argument that raising institutional interest rates might have strong negative effects on savings, investment output ... See full document

... through the mobilization of resources from savers and their direction to profitable economic activities with high added value, can increase economic ...dissimilarity financial structure ... See full document

... liquidity and GDP growth is not robust due to a failure in the way Levine and Zervos dealt with the outliers present in the ...are the Asian Tigers (Taiwan, ... See full document

... theoretical and empirical literature on the nexus finance-growth is ...two financial markets: banking sector and stock ...market. The various financial ... See full document

... is the ratio of the total value of listed shares (market capitalization) to GDP, both in nominal ...measure the development of stock markets under the assumption that ... See full document

... of the determinants of economic growth and aggregate wealth distribution are key issues of macroeconomic studies and attempts to model these phenomena go far ...a growth model ... See full document

... Caldero´n and Poggio [27] examined the structural factors that may have impact on growth effect of trade ...openness. The growth benefits of rising trade openness are conditional on ... See full document

... Among the developing economies, it is worth highlighting Latin American capital markets because they have become more attractive to international investors, since they present high economic ... See full document

... create the data panel, was selected six countries to analyse: France, Greece, Ireland, Italy, Portugal and ...Spain. The three main reasons to use these selected countries is the ... See full document

... In the literature, it is exposed through empirical observations that if financial liberalization is not well implemented may conduct to severe financial ...crisis. In Stiglitz (2000) ... See full document

... to the King and Levine (1993a) data set Deidda and Fattouh (2002) find that in low income countries there is no significant rela- tionship between financial development ... See full document

... indicates the relations between the changes in returns of market index and depending changes in stock returns (Demir and Kaderli, 2008: 97; Korkmaz and Ceylan, ... See full document

... of the psychology of agents strongly indicate that traders are overly confident in their ability to predict the future and overestimate the accuracy of their ...Aldrighi and ... See full document

... The economic boom started in the second half of 2005 and continued until the third quarter of 2007, when we observed the top turning point in business climate ... See full document