Stock Market Development and Economic Growth in India PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Stock Market Development and Economic Growth in India PDF full book. Access full book title Stock Market Development and Economic Growth in India by Srinivasan Palamalai. Download full books in PDF and EPUB format.
Author: Srinivasan Palamalai Publisher: ISBN: Category : Languages : en Pages : 17
Book Description
The link between stock market development and economic activity has always been the subject of considerable debate in the field of economics and it raises empirical question whether stock market development influences economic activity or whether it is a consequence of increased economic activity. This study attempts to investigate the direction of causality between stock market development and economic growth in the Indian context. Using the cointegration and causality tests for the period June 1991 to June 2013, the study confirms a well defined long-run equilibrium relationship between the stock market development indicators and economic growth in India. The empirical results show bidirectional causality between market capitalisation and economic growth and unidirectional causality from turnover ratio to economic growth in the long-run and short-run. By and large, it can be inferred that the stock market development indicators viz. market capitalisation and turnover ratio have a positive influence on economic growth in India.
Author: Srinivasan Palamalai Publisher: ISBN: Category : Languages : en Pages : 17
Book Description
The link between stock market development and economic activity has always been the subject of considerable debate in the field of economics and it raises empirical question whether stock market development influences economic activity or whether it is a consequence of increased economic activity. This study attempts to investigate the direction of causality between stock market development and economic growth in the Indian context. Using the cointegration and causality tests for the period June 1991 to June 2013, the study confirms a well defined long-run equilibrium relationship between the stock market development indicators and economic growth in India. The empirical results show bidirectional causality between market capitalisation and economic growth and unidirectional causality from turnover ratio to economic growth in the long-run and short-run. By and large, it can be inferred that the stock market development indicators viz. market capitalisation and turnover ratio have a positive influence on economic growth in India.
Author: Ranjan Kumar Dash Publisher: LAP Lambert Academic Publishing ISBN: 9783659390234 Category : Languages : en Pages : 204
Book Description
Developing countries are in search of better policies to achieve higher economic growth since growth reduces poverty. Development of financial sector is one of the major economic policies since financial development influences economic growth and reduces poverty. Economic literature over the years has established that a sophisticated stock market is a critical factor for long-run economic growth.Given the importance of stock market for developing countries, this study empirically examines the relationship between stock market development and economic growth using the time-series for India over the period 1980-2008. Second, the study also statistically detects the direction of causality (cause and effect relationship) in a multivariate setting between stock market development and economic growth, which is vital for policy implication. This study provides important channels of stock market-growth linkages which is important for developing countries like India.
Author: Daniel Lazar Publisher: LAP Lambert Academic Publishing ISBN: 9783846595053 Category : Languages : en Pages : 240
Book Description
The finance literature suggests that stock markets serve important functions even in those economies in which a well-developed banking sector already exists.Stock markets also provide entrepreneurs with liquidity and for opportunities to diversify their portfolios. The primary purpose or objective is to study the interrelationship between stock market development and economic growth of India in both pre and post-liberalized periods between 1971 and 2002.For want of consistency of the data used and for statistical analysis, annual data are used for pre liberalization period. In order to have a reasonable number of observations for statistical significance, quarterly data are used for twelve years in the post liberalization period.Empirical testing is done by various classifications namely: stock market development, comparison of stock market development and economic growth variables and interrelationship between stock market development and economic growth during pre and post liberalization separately.Descriptive statistics, bi-variate correlations, exponential growth, elasticity and conglomerate indexes step wise regressions are the tools used in the study.
Author: George Zaad Publisher: ISBN: 9786667630873 Category : Business & Economics Languages : en Pages : 0
Book Description
The role of stock market in the process of economic development has been well recognised today. thedeveloping countries have started liberalising their financial markets giving considerable importance to the development of stock markets. However, in India stock market remained a dormant part of the financial system until the initiation of the structural adjustment programme . The structural adjustment programme implemented in a gradualistic pattern consisted of comprehensive fiscal, financial and external sector reforms. As part of it capital market reforms were launched.The process of reforms has led to a pace of growth of the stock market unparalleled in the history of any country. Stock market in India has grown exponentially as measured in terms of investor participation, amount raised from the market, number of stock exchanges and other intermediaries, number of listed stocks, trading volumes and turnover on the stock exchanges. Along with these physical changes, there has also been a change in the perception about stock markets and its role in the country's economic development. The present study aims to explore the impact of stock market development on the macro economy of the country, specifically in the post-reform period. It attempts to test the extent to which stock market development affects long-term economic growth, corporate capital structure, and behaviour of retail equity investors. The study also explores the direction of causality between stock prices and major macro economic variables.
Author: Pooja Lakhanpal Publisher: Springer Nature ISBN: 9813369736 Category : Business & Economics Languages : en Pages : 396
Book Description
The book contributes to the growing literature pertaining to empirical and policy issues in international trade, foreign capital flows and issues in finance, implications for India and emerging economies related to trade and development interface, and analysis of sector level growth and development in India. Further, the focus is on the policy aspects of these themes and their role in fostering economic development in the context of India and other emerging market economies. The discourse focuses mainly on empirical work and econometric details. The relevant issues are investigated using state of the art techniques such as gravity models, panel co-integration, generalized hyperbolic distributions, SEM, FMOLS and Probit models. In addition, detailed literature survey, discussions on data availability, issues related to statistical estimation techniques and a theoretical background, ensure that each chapter significantly contributes to the ever-growing literature on international trade and capital flows. The readers shall find an engaging dialogue on the crucial role played by policy and the trade-capital flows-growth experience of emerging economies. The book is relevant for those who are interested in contemporary issues in trade, growth and finance as well as for students of advanced econometrics who may benefit from the analytical and econometric exposition. The empirical evidences provided here could serve as ready reference for academicians, researchers and policy makers, particularly in emerging economies facing similar challenges.
Author: Dr. Manjri Damele Publisher: K.K. Publications ISBN: Category : Business & Economics Languages : en Pages : 240
Book Description
Indian capital market has undergone fast changes particularly since the initiation of new economic and financial reforms in the year 1992. In the Indian economy, moving in the direction of privatization, deregulation, liberalization and globalization, the role of capital and capital market can be overemphasized. A well-organized capital market is supposed to perform disciplinary, allocative and investor protective functions effectively and efficiently. This will lead to effective channelization of foreign as well as domestic capital flow for the overall economy's growth and development. However, few studies that have been done on the Indian Capital Market have left many essential issues untouched. This book in its attempt to fill this vacant empirically investigates the role of the capital market in economic development, various indicators of the development of the capital market in India, efficiency and seasonality in the capital market, volatility in the market and Investors' perception about Indian capital market, etc. The book has been divided into eight chapters. CONTENTS Preface 1. Captial MARKET 11 Functions, Perfect Capital Market, Capital Market and Economic Growth, Studies on Capital Market, Objectives of the Study 2. Capital Market Development 37 Theories of Capital Market, Indicators of Capital Market Development, Regulation & Regulatory Body, the structure of Capital Market in India 3. Research Methodology 73 Hypotheses, Indicators Selected for the Study, Period of the The study, The Sample, The Database, Statistical Tools, Methods of Investigation and Analysis 4. Capital Market Development in India 89 The trend in Capital Market, Trend in Capital Market Indicators, Composite Index of Capital Market, Development: SINDEX, Capital Market Development and Economic Growth, Weak Form Efficiency, Day of the Week , Effect & Monthly Effect 5. MP Stock Exchange 155 MP Stock Exchange, Management of Stock Exchange, Members, Growths and Turnover on MP Stock Exchange, Annual Report of MP Stock Exchange 6. Investors’ Response to Capital Market 171 Empirical Evidences on Sample Investors, Empirical Evidence on Investors, Investments & Trading Activities, The Changing Patterns of Investment & Trading Preferences, Investors' Share Portfolio Practices 7. SEBI & Investors' Response 201 Surveillance By SEBI, Investigation by SEBI, Investors Perceptions about the regulation of Capital Market in India, Major Policy Initiatives and Developments in the Capital Market 8. Contemporary Relevance & Suggestions 229
Author: Amanullah S Publisher: ISBN: 9785108570105 Category : Languages : en Pages : 0
Book Description
Stock market plays a more vital role in a nation's economy than just mobilize new capital A healthy national stock market has been considered essential to national economic growth due to its different bundle of crucial services that stimulate the accumulation of capital and contribute to improvements in productivity. An efficient market, with a good banking system, thus enables not only to promote economic growth but also to predict it. Indicators such as capitalization, liquidity, asset pricing and turnover relating to stock market operations have been used to understand whether a national economy is proceedingon sound lines or not. Further, economic development also induces stock market development which in turn provides the means to predict future rates of growth in capital, productivity and per capita GDP.
Author: Srinivasan Palamalai
Author: Srinivasan Palamalai
Author: Ranjan Kumar Dash
Author: Daniel Lazar
Author: Swapnil Saxena
Author: Pratap Chandra Biswal
Author: George Zaad
Author: Ross Levine
Author: Pooja Lakhanpal
Author: Dr. Manjri Damele
Author: Amanullah S