Opening a stock exchange

Jenny Minier

doi:10.1016/j.jdeveco.2008.10.002

Opening a stock exchange

Jenny Minier

Economics

Research output: Contribution to journal › Article › peer-review

37 Scopus citations

Abstract

A large body of theoretical and empirical literature has established a positive relationship between levels of stock market development and economic growth. However, previous empirical work has been based on samples of approximately 40 countries with the most highly developed financial systems. Since 1950, over 70 countries have opened their first national stock exchanges. Can such exchanges increase economic growth? I present a data set of my construction that describes the exchange openings that occurred between 1960 and 1998, and find that these exchanges have generated increases in growth during their first 5 years of existence, although the longer-term results are ambiguous.

Original language	English
Pages (from-to)	135-143
Number of pages	9
Journal	Journal of Development Economics
Volume	90
Issue number	1
DOIs	https://doi.org/10.1016/j.jdeveco.2008.10.002
State	Published - Sep 2009

Keywords

Economic growth
Stock markets

ASJC Scopus subject areas

Development
Economics and Econometrics

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/j.jdeveco.2008.10.002

Cite this

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AB - A large body of theoretical and empirical literature has established a positive relationship between levels of stock market development and economic growth. However, previous empirical work has been based on samples of approximately 40 countries with the most highly developed financial systems. Since 1950, over 70 countries have opened their first national stock exchanges. Can such exchanges increase economic growth? I present a data set of my construction that describes the exchange openings that occurred between 1960 and 1998, and find that these exchanges have generated increases in growth during their first 5 years of existence, although the longer-term results are ambiguous.

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KW - Stock markets

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Opening a stock exchange

Abstract

Keywords

ASJC Scopus subject areas

UN SDGs

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