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The impact of economic growth on the financial and capital market

Author

Listed:
  • Claudiu-Florentin Lăceanu

    (Romanian Academy, Bucharest, Romania)

  • Liviu-Valentin Vlăducu

    (Romanian Academy, Bucharest, Romania)

  • Ovidiu-Gheorghe Petru

    (Romanian Academy, Bucharest, Romania)

  • Marius-Silviu Culea

    (Dunărea de Jos" University, Galați, Romania)

Abstract

Sustainable development, in the light of the aimed objectives, has a key role in each country’s economy, but also in the world. We have taken this initiative out of our wish to find a scientific explanation of how economic growth influences the capital market and the private insurance and pensions sector across the European Union (EU) member states. Economic growth is part of the indicators measuring the progress made in implementing the Sustainable Development Goal 8. Starting from the fact that in any country, savings and investment play a particularly important role, both at macroeconomic level and at company level, and from the existence of a set of factors that influence savings/investment decisions to the detriment of the current consumption of funds, thus generating a future advantage, this paper aims to study the influence of changing the real gross domestic product on the main ways of placing the sums available in the economy on the capital/financial market.

Suggested Citation

  • Claudiu-Florentin Lăceanu & Liviu-Valentin Vlăducu & Ovidiu-Gheorghe Petru & Marius-Silviu Culea, 2021. "The impact of economic growth on the financial and capital market," Journal of Financial Studies, Institute of Financial Studies, vol. 10(6), pages 77-93, May.
    • Handle: RePEc:fst:rfsisf:v:10:y:2021:i:6:p:77-93
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    References listed on IDEAS

    as
    1. Florackis, Chris & Giorgioni, Gianluigi & Kostakis, Alexandros & Milas, Costas, 2014. "On stock market illiquidity and real-time GDP growth," Journal of International Money and Finance, Elsevier, vol. 44(C), pages 210-229.
    2. Bae, Kee-Hong & Bailey, Warren & Kang, Jisok, 2021. "Why is stock market concentration bad for the economy?," Journal of Financial Economics, Elsevier, vol. 140(2), pages 436-459.
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    More about this item

    Keywords

    Economic growth; capital market; private pensions; insurance; European Union;
    All these keywords.

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • D57 - Microeconomics - - General Equilibrium and Disequilibrium - - - Input-Output Tables and Analysis

    Statistics

    Access and download statistics

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