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Evolving Importance of Securities Market to Ensure Economic Growth: Evidence from Armenia

Evolving Importance of Securities Market to Ensure Economic Growth: Evidence from Armenia AbstractThis research aims to reveal the importance of securities market in ensuring economic growth in Armenia. In order to make the research more substantial, we also examined the impact of other financial market segments, such as insurance market and credit market, on the economic growth. To estimate the relationship between financial market segments and economic growth, an empirical research was conducted using correlation and regression techniques. The research reveals that the most significant impact on the economic growth among Armenian financial market segments has the credit market of Armenia. There is no significant relationship between economic growth and insurance, as well as corporate securities market. It is pointed out in the research, that the evolving importance of the role of securities market in the economic growth is not yet demonstrated in Armenia, which, perhaps, results from the absence of interaction between securities market and economy in Armenia. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Scientific Annals of Economics and Business de Gruyter

Evolving Importance of Securities Market to Ensure Economic Growth: Evidence from Armenia

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Publisher
de Gruyter
Copyright
© 2017 Ashot Salnazaryan et al., published by De Gruyter Open
eISSN
2501-3165
DOI
10.1515/saeb-2017-0030
Publisher site
See Article on Publisher Site

Abstract

AbstractThis research aims to reveal the importance of securities market in ensuring economic growth in Armenia. In order to make the research more substantial, we also examined the impact of other financial market segments, such as insurance market and credit market, on the economic growth. To estimate the relationship between financial market segments and economic growth, an empirical research was conducted using correlation and regression techniques. The research reveals that the most significant impact on the economic growth among Armenian financial market segments has the credit market of Armenia. There is no significant relationship between economic growth and insurance, as well as corporate securities market. It is pointed out in the research, that the evolving importance of the role of securities market in the economic growth is not yet demonstrated in Armenia, which, perhaps, results from the absence of interaction between securities market and economy in Armenia.

Journal

Scientific Annals of Economics and Businessde Gruyter

Published: Dec 1, 2017

References