THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH
Capital markets are regarded as “the barometer” of economic activity at the national level, but among emerging markets, the position of this segment in the economy is far from ideal. The answers that we try to offer are concerning the contribution of capital markets to the economic welfare of nation...
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| Format: | Article |
| Language: | English |
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Romanian Foundation for Business Intelligence
2014-06-01
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| Series: | Cross-Cultural Management Journal |
| Subjects: | |
| Online Access: |
http://seaopenresearch.eu/Journals/articles/CMJ2014_I1_11.pdf
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| _version_ | 1818491255959584768 |
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| author | Ion POHOAŢĂ Oana R. SOCOLIUC Delia E. DIACONAŞU |
| author_facet | Ion POHOAŢĂ Oana R. SOCOLIUC Delia E. DIACONAŞU |
| author_sort | Ion POHOAŢĂ |
| collection | DOAJ |
| description | Capital markets are regarded as “the barometer” of economic activity at the national level, but among emerging markets, the position of this segment in the economy is far from ideal. The answers that we try to offer are concerning the contribution of capital markets to the economic welfare of nations in transition from Central and Eastern Europe, using Granger causality tests. Our findings highlight that in this geographical area, the relation between capital markets and economic growth is a bidirectional one. However, although both the establishment of stock exchanges and their liberalization represented governments’ strategy of economic development, their objective was not fully achieved. Institutional transformations are required in order to attract foreign investors. |
| first_indexed | 2024-12-10T17:28:21Z |
| format | Article |
| id | doaj.art-01bdbb44d9f549b2b335fd2104d25af2 |
| institution | Directory Open Access Journal |
| issn | 2286-0452 |
| language | English |
| last_indexed | 2024-12-10T17:28:21Z |
| publishDate | 2014-06-01 |
| publisher | Romanian Foundation for Business Intelligence |
| record_format | Article |
| series | Cross-Cultural Management Journal |
| spelling | doaj.art-01bdbb44d9f549b2b335fd2104d25af22022-12-22T01:39:46ZengRomanian Foundation for Business IntelligenceCross-Cultural Management Journal2286-04522014-06-01XVI1139145cmj:y2014:i1::POHOATA,SOCOLIUC,DIACONASUTHE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTHIon POHOAŢĂ0Oana R. SOCOLIUC1Delia E. DIACONAŞU2 Faculty of Economics and Business Administration, ALEXANDRU IOAN CUZA University of Iasi, Romania Faculty of Economics and Business Administration, ALEXANDRU IOAN CUZA University of Iasi, Romania Faculty of Economics and Business Administration, ALEXANDRU IOAN CUZA University of Iasi, Romania Capital markets are regarded as “the barometer” of economic activity at the national level, but among emerging markets, the position of this segment in the economy is far from ideal. The answers that we try to offer are concerning the contribution of capital markets to the economic welfare of nations in transition from Central and Eastern Europe, using Granger causality tests. Our findings highlight that in this geographical area, the relation between capital markets and economic growth is a bidirectional one. However, although both the establishment of stock exchanges and their liberalization represented governments’ strategy of economic development, their objective was not fully achieved. Institutional transformations are required in order to attract foreign investors. http://seaopenresearch.eu/Journals/articles/CMJ2014_I1_11.pdf emerging capital marketeconomic developmentCentral and Eastern Europe |
| spellingShingle | Ion POHOAŢĂ Oana R. SOCOLIUC Delia E. DIACONAŞU THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH Cross-Cultural Management Journal emerging capital market economic development Central and Eastern Europe |
| title | THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH |
| title_full | THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH |
| title_fullStr | THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH |
| title_full_unstemmed | THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH |
| title_short | THE SUCCESS OF EMERGING CAPITAL MARKETS IN DETERMINING ECONOMIC GROWTH |
| title_sort | success of emerging capital markets in determining economic growth |
| topic | emerging capital market economic development Central and Eastern Europe |
| url |
http://seaopenresearch.eu/Journals/articles/CMJ2014_I1_11.pdf
|
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