The capital market as a driver of economic growth-with an emphasis on institutional investors investments

Mitreva, Mila (2022) The capital market as a driver of economic growth-with an emphasis on institutional investors investments. In: Fifth International Scientific Conference-Challenges of Tourism and Business logistics in the 21st century.

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Abstract

The relationship between economic development and economic growth has been deeply analyzed, but the interrelationship between capital markets and economic growth has not been researched enough. The lack of research in this field was the driving factor for the analysis in this paper. Existing literature shows that capital market promote the economic activities and are very beneficial for the investors, especially the institutional investors. Therefore, as dependent variable in this paper was taken the GDP growth, while the independent is the market capitalization. Results show that market capitalization is significant and has positive effect on the economic growth in the European Union. Additionally, the data was obtained from the World Bank database and the period of analysis is from 2006-2020. Considering the positive effect, this creates opportunities for further and deeper research. Nevertheless, institutional investors have shown their positive effect on economic growth, thus, more developed capital markets can be more attractive for them. The more institutional investors invest in the capital markets, the better will be the economic growth of the countries in the European Union.

Item Type:	Conference or Workshop Item (Speech)
Subjects:	Social Sciences > Economics and business
Divisions:	Faculty of Economics
Depositing User:	Mila Mitreva
Date Deposited:	20 Oct 2022 09:02
Last Modified:	20 Oct 2022 09:02
URI:	https://eprints.ugd.edu.mk/id/eprint/29748

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