Title: Emerging stock markets, portfolio capital flows and long-term economie growth: Micro and macroeconomic perspectives
Abstract: The paper examines two major components of financial liberalization, stock market development and portfolio capital flows in the context of less developed countries. The paper considers microeconomic and macroeconomic perspectives on their implications for long-term development and economic growth. It concentrates on: (a) the role of stock markets in financing corporate growth; (b) the implications of stock market volatility for resource allocation and productive efficiency; and (c) the interactions between the foreign exchange and stock markets in the context of economic shocks.
Publication Year: 1998
Publication Date: 1998-04-01
Language: en
Type: article
Indexed In: ['crossref']
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Cited By Count: 193
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