Quy mô thị trường chứng khoán, thị trường tín dụng và tương tác của chúng đến tăng trưởng kinh tế tại các nước đang phát triển
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Abstract
The two–steps system – GMM estimator with dynamic panel was used in this paper to investigate the effects of stock market and credit market size, and their interaction on economic growth of developing countries over the 2002 – 2017 period. The results showed that stock market and credit market size stimulated growth while their interaction reduced growth. Research also showed that the inflation in developing countries was at a level that promoted the economic growth; simultaneously, technology element, government effectiveness and regulatory quality had positive impacts on growth.
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