Påverkar aktiemarknaden ekonomisk tillväxt? En empirisk undersökning av aktiemarknadens relation till ekonomisk tillväxt

Sammanfattning: Economic growth has always been a topic of interest. The approach to influencing factors has developed over time. Due to the established theories broadly generalized assumptions, more focus has been assigned to the stock market. Studies on the topic present different results and therefore more research is of demand. The purpose of the study is to examine whether the stock market can be used as an alternative institution for economic growth. In order to bring more evidence to a conclusion, whether the stock market affects economic growth we have collected panel data and designed several regressions. Our data include 49 countries and is reduced to the time series 1995-2018. The study examines the relationship between stock market and technological development as an intermediary for economic growth. The results of the study support such a relationship. Moreover, we have divided our dataset into two samples, which represents different juridical families. By doing so, we have been able to conclude that juridical family effects the outcome of the stock market. The results also show that no matter the juridical family economic growth benefits of an established stock market.