This paper discusses the links between economic growth, corporate earnings and stock returns. Cross-country correlation …-growing countries. The problem can be analysed more deeply by analysing stock returns with respect to the growth of earnings per share … reveals that in the long run stock price returns are driven by companies’ earnings, and that the lack of correlation between …

on ex post outcomes impose a rational structure of expectations on school performance and post-graduation earnings … countries and check for relations of expected probability to graduate and of expected earnings with personal abilities and …