This paper examines the impact of the stock market primarily on economic growth using panel data from 1990-2010. I apply Generalized Least Squares techniques for fixed effects with the exclusion of the subgroup 2005-2010 which uses random effects. The effect of the stock market on growth is based on country-specific effects and varies in different time periods.
Fynn, Kwame D.
"Does the Equity Market affect Economic Growth?,"
The Macalester Review:
2, Article 1.
Available at: http://digitalcommons.macalester.edu/macreview/vol2/iss2/1