%0 Journal Article
%T Stock Market And Economic Growth: An Empirical Analysis For Germany
%A Adamopoulos Antonios
%J Business and Economics Journal
%D 2010
%I 
%X This paper investigates the causal relationship between stock market development and economic growth for Germany for the period1965-2007 using a Vector Error Correction Model (VECM). The purpose of this paper was to examine the long-run relationshipbetween these variables, applying the Johansen co-integration analysis based on the classical unit roots tests. The results of Grangercausality tests indicated that there is a unidirectional causality between stock market development and economic growth withdirection from stock market development to economic growth.
%K Stock market
%K Economic growth
%K VAR model
%K Granger causality
%U http://astonjournals.com/manuscripts/Vol2010/BEJ-1_Vol2010.pdf