The Impact of Institutional Investors on Economic Growth of European Countries

Mihaela Brodocianu
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Mihaela Brodocianu: Alexandru Ioan Cuza University of Iasi, Faculty of Economics and Business Administration

Finante - provocarile viitorului (Finance - Challenges of the Future), 2019, vol. 1, issue 21, 112-119

Abstract: Institutional investors have an important place in current financial markets. The big amount of assets and the high expectations from retail investors is putting a lot of pressure on their results. Our paper is based on financial and economic data of 45 European countries, for the period 1995-2015. The scope of our study is to check if the presence of mutual funds, pension funds and insurance companies is important not only for financial development but also for economic growth, expressed as GDP growth per capita. Our results show a positive relation between the assets of institutional investors and GDP growth per capita and of all types of institutional investors, the highest impact is from insurance companies.

JEL-codes: E44 G23 O16 O47 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:aio:fpvfcf:v:1:y:2019:i:21:p:112-119

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