This paper examines the relationship between stock market development and economic growth in case of Argentina's economy. Apply Granger causality and exogeneity tests based on VEC (vector error correction) models with monthly data covering the period 1993:1-2010:8. The results show that the...

This paper examines the relationship between stock market development and economic growth in case of Argentina's economy. I apply Granger causality and exogeneity tests based on VEC (vector error correction) models with monthly data covering the period 1993:1-2010:8. The results show that the...

Devoting an increasing amount of resources to the investment process tends to be a common recommendation to promote a sustained economic growth. Curiously enough, according to growth neoclassical theory, the factor that determines growth in the long-term is technological progress rather than...

A usual policy recommendation to promote sustained economic growth it to dedicate increasing resources to the investment process (i.e. high investment rates). In contrast, a well known result of neoclassical growth theory is that the only determinant of long run growth is technological progress,...