CAPITAL MARKETS DURING POSTCRISIS AND PANDEMIC: A GLOBAL PERSPECTIVE (2008-2020) IN THE CONTEXT OF INDUSTRY 4.0

Daniela Șerban, Andreea Gabriela Tănase, Cosmin-Octavian Dobrin and Viorel - Costin Banța
Additional contact information
Daniela Șerban: The Bucharest University of Economic Studies, Bucharest, Romania
Andreea Gabriela Tănase: The Bucharest University of Economic Studies, Bucharest, Romania
Cosmin-Octavian Dobrin: The Bucharest University of Economic Studies, Faculty of Managements, Management Department, Bucharest, Romania
Viorel - Costin Banța: The Bucharest University of Economic Studies, Faculty of Accounting and Management, Information Systems, Management Information Systems Department, Bucharest, Romania

Annals of University of Craiova - Economic Sciences Series, 2023, vol. 1, issue 51, 44-51

Abstract: This study examines, using intelligent technologies, the evolution of global capital markets during two defining periods of the past decade: the global financial crisis and the COVID-19 pandemic. Analyzing data from 46 developed and emerging markets, we investigate changes in total GDP, market capitalization, and the market capitalization-to-GDP ratio from 2008 to 2020. The findings highlight crucial trends and dynamics in the world's financial markets. Over this period, total GDP increased by nearly 39%, reaching USD 71.2 trillion, while stock markets expanded almost fourfold to USD 94.4 trillion, market capitalization exceeding by 32% GDP in 2020. The United States reaffirmed its leadership position, experiencing significant growth in both its economy and capital markets. Hong Kong, China, exhibited remarkable market capitalization-to-GDP ratios, reflecting accelerated market development. In contrast, smaller economies such as Cyprus and Mauritius faced challenges in keeping pace. With disparities for the financial crisis recovery, the year 2020, marked by the COVID-19 pandemic, led to market declines in 22 of the 46 observed markets, including both European and global economies.

Keywords: stock markets; capital markets development; Global capital markets; macroeconomic development, Industry 4.0. (search for similar items in EconPapers)
JEL-codes: E44 G18 G23 O16 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://feaa.ucv.ro/annals/v1_2023/005.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aio:aucsse:v:1:y:2023:i:51:p:44-51

Access Statistics for this article

Annals of University of Craiova - Economic Sciences Series is currently edited by Sorinel Domnisoru

More articles in Annals of University of Craiova - Economic Sciences Series from University of Craiova, Faculty of Economics and Business Administration Contact information at EDIRC.
Bibliographic data for series maintained by Anca Bandoi ( this e-mail address is bad, please contact ).