Theoretical and Applied Economics
No. 2 / 2021 (627), Summer
The impact of non-banking financial markets on economic development
Bucharest University of Economic Studies, Romania
Abstract. The interaction between financial markets and the real economy is fundamental, considering the several channels through which financial system drives economic growth. While previous studies focused mainly on the correlation between banks, stock markets and economic growth, this study brings a new perspective by adding the bond market and insurance industry to the analysis. Main findings confirm the existence of a positive significant link between capital market and economic development, simultaneously providing new evidence about the positive impact of insurance and bond markets on economic growth, using a panel data set of 32 countries.
Contents
The impact of non-banking financial markets on economic development
The effect of financial liberalization on Malaysian economic growth
Causal relationship between agricultural exports and economic growth: a diagnostic approach
COVID-19 and CAPM: a tale of reference dependence with the pharma stocks’ returns
Statistical analysis on population ageing
An impulse response function analysis of the impact of modern payment technologies on money demand in Nigeria
Statistical analysis on the evolution of economic activity in Romania
Determinants of trade flows to Agadir Agreement countries: gravity model three-way approach
Case study: The impact on the Romanian State Budget in the case of EU adoption of the CCCTB Directive
Public expenditure and economic development: New evidence from the BRICS-SAARC-ASEAN region
The external debt burden and economic growth in Africa: a panel data analysis
What explains the real exchange rate movement for the BRICS nations? With a separate analysis for Indian economy
Export supporting strategy, distance to frontier and economic growth
Volatility Forecasting, Market Efficiency and Effect of Recession of SRI Indices
The impact of taxation on growth: the case of Greece