Stock exchange development and economic growth

Takuo Tsurushima

Revue d'Économie Financière, 2006, vol. 82, issue 1, 45-54

Abstract: [eng] Historically, exchanges were primarily set up to take advantage of business opportunities and their influence to economic growth can be seen as a benevolent side effect. Stock exchanges contribute to economic growth thanks to their distinctive features : they evaluate entrepreneurs, pool resources, diversify risk and value the expected profits from innovative activities. The importance of stock exchanges is obvious in two concrete examples : SMEs and privatization. As exchanges are more and more global, standardization of products and processes is growing among World Federation of Exchanges members. A lot of exchanges emphasize on corporate governance and disclosure regulations which are key in ensuring transparency, integrity and credibility of the financial industry. . JEL classification : G15, G23, O16

Date: 2006
Note: DOI:10.3406/ecofi.2006.4435
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