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Stock market development and economic performance: The case of Mexico

Author
Castillo Ponce,Ramón A

Rodríguez Espinosa,María de Lourdes

Gaytan Alfaro,Edgar David

Full text
https://scielo.conicyt.cl/scielo.php?script=sci_arttext&pid=S0718-88702015000100003
Abstract
We evaluate the association between stock market development and the aggregate economy for the long-run and the short-run. We perform cointegration and common cycle tests considering various stock market indicators, real GDP and industrial production for the Mexican economy. While controlling for structural breaks in the series, we identify the existence of common trends but not common cycles. Specifically, stock market activity and real variables exhibit a positive and significant relationship in the long-run; however, they appear to have different responses to transitory shocks. These results confirm that stock market development is conducive to economic growth.
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Discipline
Artes, Arquitectura y UrbanismoCiencias Agrarias, Forestales y VeterinariasCiencias Exactas y NaturalesCiencias SocialesDerechoEconomía y AdministraciónFilosofía y HumanidadesIngenieríaMedicinaMultidisciplinarias
Institutions
Universidad de ChileUniversidad Católica de ChileUniversidad de Santiago de ChileUniversidad de ConcepciónUniversidad Austral de ChileUniversidad Católica de ValparaísoUniversidad del Bio BioUniversidad de ValparaísoUniversidad Católica del Nortemore

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