Work

Stock Market Development and Economic Growth in Belgium

Year: 2005

Type: report

Abstract: This paper investigates the long-term relationship between financial market development and economic development in Belgium. We use a new data set of stock market development indicators to argue that financial market development substantially affected economic growth. We find strong evidence that stock market development caused economic growth in Belgium, especially in the period between 1873 and 1935. Institutional changes affecting the stock exchange explain the time-varying nature of the link between stock market development and economic growth.

Source: Faculty Digital Archive (New York University Florence)

Authors: Nieuwerburgh, Stijn Van, Buelens, Frans, Cuyvers, Ludo

Institutions: New York University, University of Antwerp

Language: English

Topic: Historical Economic and Social Studies

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

Funders: Universiteit Antwerpen, Vlaamse regering

OpenAlex ID: W3121620933

Cites: 42

Cited by: 199

Related to: 10