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Stock market – economy growth nexus in an emerging country. The case of Romania

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  • Delia-Elena DIACONAŞU

    („Alexandru Ioan Cuza” University of Iaşi, Romania)

Abstract

The accelerated development of emerging stock markets in recent decades, obstructed by the economic crisis of 2008 that has not lost its pulse in the European perimeter, led to reviving interests regarding the role of stock markets within economies. The aim of this paper is to identify the nature of the linkage between stock market and economic growth in Romania. Using the VEC model, we demonstrated that before the financial liberalisation and global crisis, the domestic environment led to stock market development, but after, the evolution of this component of the nominal economy was predominantly due to the international context.

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  • Delia-Elena DIACONAŞU, 2015. "Stock market – economy growth nexus in an emerging country. The case of Romania," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(603), S), pages 103-112, Summer.
    • Handle: RePEc:agr:journl:v:xxii:y:2015:i:2(603):p:103-112
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    Cited by:

    1. Ion POHOAŢĂ, & Delia Elena DIACONAÅžU, Author-Workplace-Name: Alexandru Ioan Cuza University of IaÅŸi, 700506, Romania & Oana Ramona SOCOLIUC, 2016. "Economic Dynamics €“ Stock Market Evolution: A Relation Committed To Dysfunctionality In Romania And Croatia," EcoForum, "Stefan cel Mare" University of Suceava, Romania, Faculty of Economics and Public Administration - Economy, Business Administration and Tourism Department., vol. 5(1), pages 1-40, January.

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