Stock Market-Growth Nexuses

Stock markets are considered as a crucial sector in the financial system as they fulfill long term capital requirements of investment projects which are essential for steady economic growth. However researchers are yet to establish a link between stock market development and economic growth; furthermore they have ended up with contradictory findings. Consequently both Growth-Led Finance and Finance-Led Growth Hypotheses are supported by different contemporary authors leaving more space for new scholarly work. This book is an attempt to narrow the gap that exists in literature and provide a more quantitative approach based on modern econometric techniques. While the book analyses the link between stock market development and the economic growth of both developed and emerging markets it also addresses the development of the stock market in Sri Lanka. Thus this will be an interesting read for both scholars and general readers.