Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/324623 
Authors: 
Year of Publication: 
2024
Citation: 
[Journal:] Central European Economic Journal (CEEJ) [ISSN:] 2543-6821 [Volume:] 11 [Issue:] 58 [Year:] 2024 [Pages:] 406-423
Publisher: 
Sciendo, Warsaw
Abstract: 
To control for the endogeneity problem, this study applies the two-stage least squares technique to examine the impact of bank and stock market development on economic growth in the thirteen Central and Eastern European (CEE) countries in the European Union (EU) during 2001-2020. The first hypothesis states that the higher bank development has not contributed to higher growth in the CEE countries. The overall results only support the hypothesis for the subperiod of 2001-2009. The second hypothesis states that the higher stock market development has not spurred growth in the CEE countries. The overall results support the hypothesis over the entire period of 2001-2020. Finally, despite the CEE integration with the EU developed countries for the past decades, there is a very limited number of empirical studies on the finance-growth relationship in the CEE countries. This study contributes to the relevant literature by examining the bank and stock market development's relationship with growth in the CEE developing countries.
Subjects: 
economic growth
bank
financial market
JEL: 
O40
G21
G10
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.