This paper examines for the first time the relationship between the net issue values of aggregate bonds, as well as the different bond sectors separately, and economic growth. The other new feature of this study is the usage of quarterly data. Granger causalities are calculated for time series...

We investigate the relationship of both the net aggregated bond issuance volume and of the individual bond sectors (government, financial, corporate) and economic growth. We apply granger causalities to quarterly data over the 1994 to 2003 period for 15 European countries, the USA and Japan in...