MARKET AND ECONOMIC DEVELOPMENT IN BULGARIA

Abstract

The present paper tests empirically the existence of a causal relationship between the economic growth and the development in the banking and stock market in transition economies and especially the case of Bulgaria. The Johansen cointegration test indicated one long – run relationship between the banking sector, the stock market and the economic growth while the application of the Granger causality test indicated a bilateral relationship between the economic growth and the development in the stock market, as well as between the economic growth and the development in banking sector. Finally, a unilateral relationship was concluded between the development in credit and stock market.

Divisions: College of Business and Social Sciences > Aston Business School > Operations & Information Management
Additional Information: © 2012 The Authors
Last Modified: 30 Sep 2024 09:26
Date Deposited: 30 Oct 2019 12:06
PURE Output Type: Conference contribution
Published Date: 2012
Authors: Zafeiriou, Eleni
Karelakis, Christos
Malesios, Chrysovalantis (ORCID Profile 0000-0003-0378-3939)
Koutroumanidis, T

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