Caporale, Guglielmo Maria; Howells, Peter; Soliman, Alaa M. - In: Review of Development Economics 9 (2005) 2, pp. 166-176
This paper re-examines the relationship between stock market development and economic growth. It provides a theoretical basis for establishing the channel through which stock markets affect economic growth in the long run. It examines the hypothesis of endogenous growth models that financial...