{"id":"https://openalex.org/W2954058613","doi":"https://doi.org/10.1108/sef-02-2017-0046","title":"Stock market, banking sector and economic growth","display_name":"Stock market, banking sector and economic growth","publication_year":2019,"publication_date":"2019-06-26","ids":{"openalex":"https://openalex.org/W2954058613","doi":"https://doi.org/10.1108/sef-02-2017-0046","mag":"2954058613"},"language":"en","primary_location":{"id":"doi:10.1108/sef-02-2017-0046","doi":"https://doi.org/10.1108/sef-02-2017-0046","is_oa":false,"landing_page_url":"https://doi.org/10.1108/sef-02-2017-0046","pdf_url":null,"source":{"id":"https://openalex.org/S141165859","display_name":"Studies in Economics and Finance","issn_l":"1086-7376","issn":["1086-7376","1755-6791"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Studies in Economics and Finance","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5077541060","display_name":"Soumya Guha Deb","orcid":"https://orcid.org/0000-0002-4913-2907","observed_orcids":["https://orcid.org/0000-0002-4913-2907"]},"institutions":[{"id":"https://openalex.org/I33003672","display_name":"Indian Institute of Management Indore","ror":"https://ror.org/02j8pmw82","country_code":"IN","type":"education","lineage":["https://openalex.org/I33003672"]},{"id":"https://openalex.org/I4403928386","display_name":"Indian Institute of Management Sambalpur","ror":"https://ror.org/008ztmr80","country_code":"IN","type":"education","lineage":["https://openalex.org/I4403928386"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Soumya Guha Deb","raw_affiliation_strings":["Indian Institute of Management, Sambalpur, India","IIM Indore"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Indian Institute of Management, Sambalpur, India","institution_ids":["https://openalex.org/I4403928386"]},{"raw_affiliation_string":"IIM Indore","institution_ids":["https://openalex.org/I33003672"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5001718610","display_name":"Sibanjan Mishra","orcid":"https://orcid.org/0000-0001-7912-6690","observed_orcids":["https://orcid.org/0000-0001-7912-6690"]},"institutions":[{"id":"https://openalex.org/I4210137468","display_name":"XIM University","ror":"https://ror.org/04hx99g79","country_code":"IN","type":"education","lineage":["https://openalex.org/I4210137468"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Sibanjan Mishra","raw_affiliation_strings":["Xavier University Bhubaneswar, India"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Xavier University Bhubaneswar, India","institution_ids":["https://openalex.org/I4210137468"]}]},{"author_position":"last","author":{"id":null,"display_name":"Pradip Banerjee","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I33003672","display_name":"Indian Institute of Management Indore","ror":"https://ror.org/02j8pmw82","country_code":"IN","type":"education","lineage":["https://openalex.org/I33003672"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Pradip Banerjee","raw_affiliation_strings":["Indian Institute of Management, Indore, India"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Indian Institute of Management, Indore, India","institution_ids":["https://openalex.org/I33003672"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.6148,"has_fulltext":false,"cited_by_count":12,"citation_normalized_percentile":{"value":0.86736573,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":93,"max":97},"biblio":{"volume":"36","issue":"3","first_page":"348","last_page":"364"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9901999831199646,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9901999831199646,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.0027000000700354576,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11742","display_name":"Economic Theory and Policy","score":0.002099999925121665,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-sector-development","display_name":"financial sector development","score":0.8069999814033508},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":0.8149999976158142},{"id":"https://openalex.org/keywords/stock-market","display_name":"stock market","score":0.8199999928474426},{"id":"https://openalex.org/keywords/banking","display_name":"banking sector","score":0.9990000128746033},{"id":"https://openalex.org/keywords/real-economy","display_name":"real economy","score":0.4620000123977661},{"id":"https://openalex.org/keywords/supply-leading-hypothesis","display_name":"supply-leading hypothesis","score":0.7929999828338623},{"id":"https://openalex.org/keywords/demand-following-hypothesis","display_name":"demand-following hypothesis","score":0.9990000128746033},{"id":"https://openalex.org/keywords/business-cycles","display_name":"business cycles","score":0.7950000166893005},{"id":"https://openalex.org/keywords/emerging-market-and-developing-economies","display_name":"emerging and developing economies","score":0.734000027179718}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7366953492164612},{"id":"https://openalex.org/C141441539","wikidata":"https://www.wikidata.org/wiki/Q1970908","display_name":"Boom","level":2,"score":0.6951056718826294},{"id":"https://openalex.org/C121087249","wikidata":"https://www.wikidata.org/wiki/Q546395","display_name":"Emerging markets","level":2,"score":0.592484712600708},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5858700275421143},{"id":"https://openalex.org/C154193497","wikidata":"https://www.wikidata.org/wiki/Q3958441","display_name":"Economic sector","level":2,"score":0.5648637413978577},{"id":"https://openalex.org/C195561663","wikidata":"https://www.wikidata.org/wiki/Q1307899","display_name":"Unit root","level":2,"score":0.5171029567718506},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.5027298927307129},{"id":"https://openalex.org/C2777747085","wikidata":"https://www.wikidata.org/wiki/Q5449743","display_name":"Financial sector development","level":3,"score":0.47414347529411316},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.46089428663253784},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3769926428794861},{"id":"https://openalex.org/C136264566","wikidata":"https://www.wikidata.org/wiki/Q159810","display_name":"Economy","level":1,"score":0.3251330852508545},{"id":"https://openalex.org/C2986840890","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial sector","level":2,"score":0.320964515209198},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.26426175236701965},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.23837494850158691},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C87717796","wikidata":"https://www.wikidata.org/wiki/Q146326","display_name":"Environmental engineering","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1108/sef-02-2017-0046","doi":"https://doi.org/10.1108/sef-02-2017-0046","is_oa":false,"landing_page_url":"https://doi.org/10.1108/sef-02-2017-0046","pdf_url":null,"source":{"id":"https://openalex.org/S141165859","display_name":"Studies in Economics and Finance","issn_l":"1086-7376","issn":["1086-7376","1755-6791"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","anvur-scientific","cwts-core","norway-1","poland-70","russia-white-list-2"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Studies in Economics and Finance","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8","score":0.5263000130653381}],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":65,"referenced_works":["https://openalex.org/W597986150","https://openalex.org/W650025864","https://openalex.org/W1514296636","https://openalex.org/W1524532650","https://openalex.org/W1607166558","https://openalex.org/W1714264005","https://openalex.org/W1771438804","https://openalex.org/W1874998428","https://openalex.org/W1975639440","https://openalex.org/W1978775682","https://openalex.org/W1981556237","https://openalex.org/W1983239672","https://openalex.org/W1986829883","https://openalex.org/W1987580684","https://openalex.org/W1988730537","https://openalex.org/W1997008462","https://openalex.org/W2010802592","https://openalex.org/W2018944810","https://openalex.org/W2036795596","https://openalex.org/W2038341664","https://openalex.org/W2039882728","https://openalex.org/W2042733527","https://openalex.org/W2045155053","https://openalex.org/W2047585676","https://openalex.org/W2053241257","https://openalex.org/W2055686677","https://openalex.org/W2069142035","https://openalex.org/W2070076519","https://openalex.org/W2071769407","https://openalex.org/W2072872972","https://openalex.org/W2077358653","https://openalex.org/W2078213728","https://openalex.org/W2085000579","https://openalex.org/W2090721537","https://openalex.org/W2097043199","https://openalex.org/W2099268311","https://openalex.org/W2102897370","https://openalex.org/W2105715156","https://openalex.org/W2115455254","https://openalex.org/W2117513178","https://openalex.org/W2123985991","https://openalex.org/W2124884000","https://openalex.org/W2125331782","https://openalex.org/W2129320007","https://openalex.org/W2131282092","https://openalex.org/W2144131031","https://openalex.org/W2161276022","https://openalex.org/W2187332388","https://openalex.org/W2274437608","https://openalex.org/W2286797267","https://openalex.org/W2476707296","https://openalex.org/W2520300012","https://openalex.org/W2520879762","https://openalex.org/W2546668537","https://openalex.org/W2591784226","https://openalex.org/W2610112930","https://openalex.org/W2785345333","https://openalex.org/W3122363154","https://openalex.org/W3122398539","https://openalex.org/W3122790390","https://openalex.org/W3123833473","https://openalex.org/W3124223798","https://openalex.org/W3124803532","https://openalex.org/W3125147766","https://openalex.org/W3126004765"],"related_works":["https://openalex.org/W3126048895","https://openalex.org/W2528758079","https://openalex.org/W3138615314","https://openalex.org/W1964632339","https://openalex.org/W1579965949","https://openalex.org/W2913880119","https://openalex.org/W1534293281","https://openalex.org/W2160347317","https://openalex.org/W4388740225","https://openalex.org/W7110846891"],"abstract_inverted_index":{"Purpose":[0],"The":[1,28,44,81,110],"purpose":[2],"of":[3,25,35,51,70,77,199,204,210,234,264,270,272,285],"this":[4,188,205],"paper":[5,206],"is":[6,119,140,156,182],"to":[7,104,126,144,192,229],"examine":[8,105],"the":[9,33,71,78,106,132,150,193,202,237,248,255,258,262,273,277],"causal":[10,107,121,214],"relationship":[11,155],"between":[12,216],"economic":[13,38,72,79,165,174,226],"development":[14,18],"and":[15,40,54,75,98,161,190,218,243,299],"financial":[16,124,145,219,235,251,265],"sector":[17,125,128,143,242,252],"for":[19,87,115,136,158,221,250,290],"28":[20],"countries":[21],"at":[22],"different":[23,183,222,225],"stages":[24],"their":[26],"development.":[27,253],"authors":[29,82,238,256,278],"specifically":[30],"focus":[31,203],"on":[32,187],"nature":[34],"causality":[36,99],"during":[37,58,164,173],"boom":[39,166],"tranquil":[41,177],"cycles.":[42,227],"Design/methodology/approach":[43],"study":[45,181],"uses":[46],"quarterly":[47,288],"time":[48],"series":[49],"panels":[50],"17":[52],"developed":[53,116,162,298],"11":[55],"emerging":[56,137,160,302],"countries,":[57],"1993Q1-2014Q4":[59],"with":[60,131,149,293],"each":[61,291],"having":[62],"three":[63],"sub-panels":[64],"\u2013":[65],"full":[66],"sample,":[67],"a":[68,84,120,197,231,267,280],"period":[69,76],"uptrend":[73],"(UP),":[74],"downtrend.":[80],"use":[83,279],"univariate":[85],"analysis":[86],"initial":[88],"screening":[89],"followed":[90],"by":[91,102],"panel":[92,96],"unit":[93],"root":[94],"test,":[95],"co-integration":[97],"test":[100],"proposed":[101],"Toda\u2013Yamamoto":[103],"relationship.":[108],"Findings":[109],"principal":[111],"results":[112],"suggest":[113],"that":[114],"economies,":[117,138,223],"there":[118],"flow":[122],"from":[123,141,184,297,301],"real":[127,142,217],"in":[129,147,196,213,261],"line":[130,148],"\u201csupply-leading\u201d":[133],"hypothesis,":[134],"whereas":[135],"it":[139],"sector,":[146,236],"\u201cdemand-following\u201d":[151],"hypothesis.":[152],"This":[153,180],"overall":[154],"strong":[157],"both":[159,240],"economies":[163],"or":[167,176],"UP":[168],"cycles,":[169],"but":[170],"becomes":[171],"weak":[172],"downturns":[175],"periods.":[178],"Originality/value":[179],"previous":[185,274],"studies":[186],"issue":[189],"contributes":[191],"existing":[194],"literature":[195],"number":[198],"ways.":[200],"First,":[201],"revolves":[207],"around":[208],"identification":[209],"differential":[211],"patterns":[212],"flows":[215],"sectors":[220],"across":[224],"Second,":[228],"present":[230],"robust":[232],"representation":[233],"consider":[239],"banking":[241],"stock":[244],"market":[245],"parameters":[246],"as":[247],"proxy":[249],"Third,":[254],"address":[257],"\u201cstock-flow":[259],"problem\u201d":[260],"measurement":[263],"variables":[266],"typical":[268],"criticism":[269],"some":[271],"studies.":[275],"Finally,":[276],"rich":[281],"sample":[282],"size":[283],"comprising":[284],"about":[286,294],"2,500":[287],"observations":[289,296],"variable,":[292],"1,500":[295],"1,000":[300],"economies.":[303]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":2},{"year":2021,"cited_by_count":3}],"updated_date":"2026-10-27T15:51:10.671819","created_date":"2019-07-12T00:00:00"}
