Abstract
This paper examines the relationship between stock market liquidity and economic growth in five emerging countries: Brazil, Russia, India, China, and South Africa, collectively referred to as the BRICS as of 2017. Using a dynamic panel data model, we find that proxies for stock market liquidity contain leading information about the real economy. Our results are robust even after controlling for macroeconomic covariates that affect both stock market and economic growth. We provide evidence that stock market liquidity contains strong and reliable information about the economic condition of BRICS during the period 2010-2017. Our study sheds light on the fact that stock market liquidity contains prospective news and information about the future state of economic growth
| Translated title of the contribution | El impacto de la liquidez del mercado bursátil en el crecimiento económico: Evidencia de los países BRICS |
|---|---|
| Original language | English |
| Number of pages | 18 |
| Journal | The Anáhuac Journal |
| Volume | 25 |
| Issue number | 2 |
| DOIs | |
| State | Published - 2025 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth -
SDG 17 Partnerships for the Goals
Keywords
- BRICS
- Liquidity
- Economic growth,
- Stock market
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