Campos, Nauro F.; Hanousek, Jan; Filer, Randall K. - Center for Economic Research and Graduate Education and … - 1999
One of the most enduring debates in economics is whether financial development causes economic growth or whether it is … going from stock market development to economic growth. We do find evidence that stock market development can cause currency … appreciation, which may confound studies that use dollar denominated measures of economic growth. …