Volatility-induced Growth in Financial Markets

Igor Evstigneev and Klaus Reiner Schenk-Hoppé ()
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Igor Evstigneev: University of Manchester

No 03-40, Discussion Papers from University of Copenhagen. Department of Economics

Abstract: We show that the volatility of prices, which is usually regarded as an impediment for financial growth, may serve as a cause of it.

JEL-codes: G11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cfn, nep-fin, nep-fmk and nep-rmg
Date: 2003-08
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