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Abstract(s)
A relação entre crescimento económico, inflação, desenvolvimento do mercado de ações e desenvolvimento do setor bancário foi estudada num painel de 21 países de rendimento elevado classificados pelo World Bank para o período 2001-2014 usando dados anuais. Todos os dados usados são extraídos do World Development Indicators do World Bank. Foi usando o PIB per capita constante para estudar o crescimento económico, a inflação no final do período para estudar a inflação e foi usado análise de componentes principais para a construção de duas variáveis que permitem o estudo do desenvolvimento do mercado de ações e do desenvolvimento do setor bancário, num painel VAR, testando a interdependência entre as variáveis bem como a causalidade à Granger, encontrando a presença de tanto causalidade unidirecional como bidirecional entre as variáveis. São também usadas as funções impulso-resposta e a decomposição da variância. Esta investigação defende que o desenvolvimento do mercado de ações e o desenvolvimento do setor bancário estimulam a economia.
The relationship between economic growth, inflation, stock market development and banking sector development was studied in a panel of 21 high income countries classified by the World Bank for the period 2001-2014 by using annual data. All the data used is from the World Development Indicators. It was used Gross Domestic Product per capita constant in order to study economic growth, inflation at the end of period to study inflation and it was used principal component analysis for the construction of two single variables that allows the assessment of stock market development and banking sector development in a panel vector auto-regressive model, for testing the interdependence between variables as well as the Granger causalities, finding the presence of both unidirectional and bidirectional causality links among them. It is also used impulse response functions and variance decomposition. The research supports that the stock market development and the banking sector development stimulates economic growth.
The relationship between economic growth, inflation, stock market development and banking sector development was studied in a panel of 21 high income countries classified by the World Bank for the period 2001-2014 by using annual data. All the data used is from the World Development Indicators. It was used Gross Domestic Product per capita constant in order to study economic growth, inflation at the end of period to study inflation and it was used principal component analysis for the construction of two single variables that allows the assessment of stock market development and banking sector development in a panel vector auto-regressive model, for testing the interdependence between variables as well as the Granger causalities, finding the presence of both unidirectional and bidirectional causality links among them. It is also used impulse response functions and variance decomposition. The research supports that the stock market development and the banking sector development stimulates economic growth.
Description
Keywords
Análise de Componentes Principais Crescimento Económico Desenvolvimento do Setor Bancário Desenvolvimento Mercado de Ações Inflação Painel Var