Interdependence between the Belgrade Stock Exchange development and Serbia's economic growth
The goal of this research is to conduct an empirical test to determine the interdependence between the Belgrade Stock Exchange development and Serbia's economic growth. The authors of this paper used the quarterly data about the market capitalization and turnover of shares achieved at the Belgr...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Economics institute, Belgrade
2019-01-01
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| Series: | Industrija |
| Subjects: | |
| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/0350-0373/2019/0350-03731904063S.pdf |
| _version_ | 1818305144049106944 |
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| author | Stojković Dragan Lojanica Nemanja Štimac Milko |
| author_facet | Stojković Dragan Lojanica Nemanja Štimac Milko |
| author_sort | Stojković Dragan |
| collection | DOAJ |
| description | The goal of this research is to conduct an empirical test to determine the interdependence between the Belgrade Stock Exchange development and Serbia's economic growth. The authors of this paper used the quarterly data about the market capitalization and turnover of shares achieved at the Belgrade Stock Exchange, as well as the quarterly data about Serbia's gross domestic product between 2003 and 2018. During the testing of the long-term variable interconnection the Johansen (1991) co-integration test was used, whereas the Granger causality test was used for the causality analysis. The test results to date primarily show that the development of a capital market is of significance for economic growth, which implies that a liquid stock exchange may serve as a reliable indicator of a long-term growth of economic activity. |
| first_indexed | 2024-12-13T06:21:55Z |
| format | Article |
| id | doaj.art-5bebeb2cfc7048638f3564da4724df4a |
| institution | Directory Open Access Journal |
| issn | 0350-0373 2334-8526 |
| language | English |
| last_indexed | 2024-12-13T06:21:55Z |
| publishDate | 2019-01-01 |
| publisher | Economics institute, Belgrade |
| record_format | Article |
| series | Industrija |
| spelling | doaj.art-5bebeb2cfc7048638f3564da4724df4a2022-12-21T23:56:49ZengEconomics institute, BelgradeIndustrija0350-03732334-85262019-01-0147463730350-03731904063SInterdependence between the Belgrade Stock Exchange development and Serbia's economic growthStojković Dragan0https://orcid.org/0000-0001-6003-9765Lojanica Nemanja1https://orcid.org/0000-0003-1460-8466Štimac Milko2https://orcid.org/0000-0002-3873-4785University of Kragujevac, Faculty of EconomicsUniversity of Kragujevac, Faculty of Economicsn/aThe goal of this research is to conduct an empirical test to determine the interdependence between the Belgrade Stock Exchange development and Serbia's economic growth. The authors of this paper used the quarterly data about the market capitalization and turnover of shares achieved at the Belgrade Stock Exchange, as well as the quarterly data about Serbia's gross domestic product between 2003 and 2018. During the testing of the long-term variable interconnection the Johansen (1991) co-integration test was used, whereas the Granger causality test was used for the causality analysis. The test results to date primarily show that the development of a capital market is of significance for economic growth, which implies that a liquid stock exchange may serve as a reliable indicator of a long-term growth of economic activity.https://scindeks-clanci.ceon.rs/data/pdf/0350-0373/2019/0350-03731904063S.pdfbelgrade stock exchangeturnover of sharesmarket capitalizationeconomic growthgranger causality test |
| spellingShingle | Stojković Dragan Lojanica Nemanja Štimac Milko Interdependence between the Belgrade Stock Exchange development and Serbia's economic growth Industrija belgrade stock exchange turnover of shares market capitalization economic growth granger causality test |
| title | Interdependence between the Belgrade Stock Exchange development and Serbia's economic growth |
| title_full | Interdependence between the Belgrade Stock Exchange development and Serbia's economic growth |
| title_fullStr | Interdependence between the Belgrade Stock Exchange development and Serbia's economic growth |
| title_full_unstemmed | Interdependence between the Belgrade Stock Exchange development and Serbia's economic growth |
| title_short | Interdependence between the Belgrade Stock Exchange development and Serbia's economic growth |
| title_sort | interdependence between the belgrade stock exchange development and serbia s economic growth |
| topic | belgrade stock exchange turnover of shares market capitalization economic growth granger causality test |
| url | https://scindeks-clanci.ceon.rs/data/pdf/0350-0373/2019/0350-03731904063S.pdf |
| work_keys_str_mv | AT stojkovicdragan interdependencebetweenthebelgradestockexchangedevelopmentandserbiaseconomicgrowth AT lojanicanemanja interdependencebetweenthebelgradestockexchangedevelopmentandserbiaseconomicgrowth AT stimacmilko interdependencebetweenthebelgradestockexchangedevelopmentandserbiaseconomicgrowth |