The effect of the stock exchange on economic growth: a case of the Zimbabwe stock exchange.

Jecheche, Petros (2011) The effect of the stock exchange on economic growth: a case of the Zimbabwe stock exchange.

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Official URL: http://hdl.handle.net/10646/678

Abstract

Post Print as appearing in AABRI: http://www.aabri.com/manuscripts/111088.pdf,This paper provides an empirical analysis of relationship between economic growth and its determinants with special focus on the stock market development in Zimbabwe. Using data for the period from 1991 to 2007 the study employed FMOLS and ARDL bounds-testing for the long run relationship and ECM for the short run dynamics. The findings suggest a positive relationship between efficient stock market and economic growth both in short run and long run. Financial instability and inflation have negative effect, and human capital and foreign direct investment have positive effect on growth. The results are consistent with the theoretical predictions.

Item Type: Article
Uncontrolled Keywords: Stock Market Developmen,Economic Growth,Co-integration,Zimbabwe Stock Exchange
Divisions: Universities > State Universities > University of Zimbabwe
Depositing User: Mr. Edmore Sibanda
Date Deposited: 30 Nov 2015 01:01
Last Modified: 30 Nov 2015 01:01
URI: http://researchdatabase.ac.zw/id/eprint/935

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