Stock markets and economic growth in oil exporting countries: evidence from Kuwait

El Mostafa Bentour

MPRA Paper from University Library of Munich, Germany

Abstract: This paper empirically investigates the role played by the Kuwait stock market on the real sector. It uses useful steps and techniques to set up a regression based on the Mankiw-Romer-Weil model to answer whether there is an eventually positive effect of the stock market developments on the real economy. The results show a positive impact of the market capitalisation on the Gross Domestic Product. The elasticity of the market capitalization to GDP is around 0.17. This impact is also confirmed by an autoregressive vector model via estimation and impulse response functions on both total and non oil GDP.

Keywords: Non oil GDP; Market Capitalization; Cobb-Douglas; Human Capital. (search for similar items in EconPapers)
JEL-codes: O11 O47 (search for similar items in EconPapers)
Date: 2014-05-15
New Economics Papers: this item is included in nep-ara, nep-ene and nep-fdg
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https://mpra.ub.uni-muenchen.de/61523/8/MPRA_paper_61523.pdf revised version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:55997

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