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Desenvolvimento do Mercado Financeiro e Crescimento Econômico: Evidências sobre Causalidade no Brasil

Yuri Cesar de Lima e Silva () and João Henrique do Carmo Camelo ()
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Yuri Cesar de Lima e Silva: Universidade Federal de Roraima (UFRR)
João Henrique do Carmo Camelo: Advocacia-Geral da União

Revista de Economia Mackenzie (REM), 2022, vol. 19, issue 2, 230-251

Abstract: We seek to verify the existence of causality between the development of the financial market and the Brazilian economic growth. For this, we carried out Granger causality tests between the Ibovespa and five different variables that seek to measure the country’s economic growth, two of them related to GDP, two related to the performance of the industry and a measure of employment generation, between the years of 1996 and 2021. The results point to the existence of unidirec-tional causality between financial development and economic growth, with the evolution of the Ibovespa indicator of the performance of the Brazilian economy.

Keywords: financial market; economic growth; Granger causality; Ibovespa; Brazilian economy. (search for similar items in EconPapers)
JEL-codes: C32 D53 O47 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aft:journl:v:19:2:2022:jul:dec:p:230-251

DOI: 10.5935/1808-2785/rem.v19n2p.230-251

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