References
[1]. Adjasi, K.D., & Biekpe, N.B. (2006). Stock market development and economic growth: The case
of selected African countries. African Development Review, 18(1), 144-161.
http://dx.doi.org/10.1111/j.1467-8268.2006.00136.x
[2]. Arteta, C., Eichengreen, B., Wyplosz, C., 2001. When Does Capital Account Liberalization Help
More than it Hurts? NBER Working Paper no. 8414
[3]. Barro, R., 1991. "Economic Growth in Cross Section of Countries", Quarterly Journal of
Economics, Vol. 106, 407-43
[4]. Beck, T. and Levine, R. (2004). Stock Markets, Banks and Growth: Panel Evidence. Journal of
Banking and Finance, Vol.28, No.1, pp.432-442. Retrieved from
http://dept.ku.edu/-empirics/Courses/Econ915/papers/stock-mkt-bank-growth_jbf04.pdf
[5]. Boako, G. & Alagidede P. (2017). The Stock Market Development and Economic Growth
Puzzle: Empirical Evidence from Africa. In: Giorgioni G. (eds) Development Finance.
[6]. Palgrave Studies in Impact Finance. Palgrave Macmillan, London, pp 207-240.
https://doi.org/10.1057/978-1-137-58032-0_8
[7]. Bush, G.R. (2018). Financial openness, policy vs. realized outcomes. Documento de
Investigacion, Banco de MexicoWorking Paper 2018-04.
[8]. Caporale, G. M., Howells, P., Soliman, A.M. (2005). Endogenous Growth Models and Stock
Market Development: Evidence from Four Countries. Review of Development Economics
Vol.9, Issue 2, Pages 166-176. https://doi.org/10.1111/j.1467-9361.2005.00270.x
[9]. Chandavarkar, A (1992). Of Finance and Development: Neglected and Unsettled Questions.
World Development, 20, 133-142.
[10]. Chinn, Menzie D. and Hiro Ito (2006). What Matters for Financial Development? Capital
Controls, Institutions, and Interactions. Journal of Development Economics, Volume 81,
Issue 1, Pages 163-192 (October). Updated 2015.
[11]. Deidda, L., Fattouch, B. (2002). "Non-linearity Between Finance and Growth", Economic
Letters, Vol. 74(3), 339-45
[12]. Eichengreen, B.J. & Leblang, D. (2003). Capital Account Liberalization and Growth:Was Mr.
Mahathir Right? International Journal of Finance and Economics 8:205-24.
[13]. Enisan, A.A., & Olufisayo, A.O. (2009). Stock market development and economic growth:
Evidence from seven Sub-Saharan African countries. Journal of Economics and Business,
61(2), 162-171.
[14]. Fidrmuc, J. (2009), "Gravity models in integrated panels", Empir Econ, 37:435-446.
[15]. Friedrich, Robert J. (1982). In Defense of Multiplicative Terms in Multiple Regression
Equations. American Journal of Political Science, Vol. 26, No. 4. (Nov., 1982), pp. 797-
833.
[16]. Kao, C. & Chiang, M.H. (2000). "On the estimation and inference of a cointegrated regression in
panel data", Advances in Econometrics 15,179-222.
[17]. Kwode, I.E. (2015). Capital Market and the Performance of the Manufacturing Industries in
Nigeria 1970-2012. European Journal of Business and Management, Vol.7, No.13, 2015.
[18]. Lam, Swee Sum & Ang, William Wee-Lian (2006). Globalization and Stock Market Returns.
Global Economy Journal, Volume 6, Issue 1, ISSN (Online) 1524-5861, DOI:
https://doi.org/10.2202/1524-5861.1118.
[19]. Levine, R. (1991) Stock markets, growth, and tax policy. Journal of Finance 46(4), 1445-1465.
[20]. Levine, R. (1997), "Stock Markets: A Spur to Economic Growth," Finance and Development,
33(1): 7-10.
[21]. Lindquist, Kjersti-Gro (1999). The Importance of Disaggregation in Economic Modelling.
Documents 99/12 . Statistics Norway, June
[22]. Ly, Aminata (2001). "Capital Market-Growth Nexus in Selected SSA Countries: A Panel and
Time". Economics Honors Papers. 5. http://digitalcommons.conncoll.edu/econhp/5
[23]. Montalvo, Jose G. (1995). Comparing cointegrating regression estimators: Some additional
Monte Carlo results. Economics Letters 48(3-4):229-234. DOI: 10.1016/0165-
1765(94)00632-C
[24]. Morck, R., Shleifer, A. and Vishny, R.W. (1990) The stock market and investment: is the market
a sideshow? Brookings Papers on Economic Activity 2, 157-215.
[25]. Moyo, D. Dead Aid: Why Aid is Not Working and how there is a Better Way for Africa. Farrar
Straus & Giroux, 2009. Print.
[26]. Nieuwerburgh, S. V., Buelens, F., & Cuyvers, L. (2006). Stock market development and
economic growth in Belgium. Explorations in Economic History, 43(1), 13-38.
https://doi.org/10.1016/j.eeh.2005.06.002
[27]. Ngarea, E., Nyamongo, E.M. & Misatib, R.N. (2014). Stock market development and economic
growth in Africa. Journal of Economics and Business, Volume 74, July-August 2014,
Pages 24-39. https://doi.org/10.1016/j.jeconbus.2014.03.002
[28]. Obstfeld, M. (1994) Risk-taking, global diversification, and growth. American Economic Review
84(5), 1310-1329.
[29]. Olusegun, Olowe, Oluwatoyin, Matthew, & Fagbeminiyi, Fasina (2011). Nigerian stock
exchange and economic development. Knowledge Management, Information
Management, Learning Management, No. 14 (2011).
[30]. Park, J. Y. 1992. Canonical cointegrating regressions. Econometrica 60: 119-143.
[31]. Phillips, P. C. B., and B. E. Hansen. 1990. Statistical inference in instrumental variables
regression with I(1) processes. Review of Economics Studies 57: 99-125.
[32]. Quinn, D., 1997. The Correlates of Change in International Financial Regulation. American
Political Science Review 1997;913; 531-51
[33]. Rousseau, P.L. & Wachtel, P. (2000), Equity Markets and Growth: Cross-Country Evidence on
Timing and Outcomes. Journal of Banking & Finance, 24, 1933-57.
[33]. Sehrawat, M. & Giri, A.K. (2017). A Sectoral Analysis of the Role of Stock Market
Development on Economic Growth: Empirical Evidence from Indian Economy. Global
Business Review 18(4) 911-923. DOI: 10.1177/0972150917692242;
http://gbr.sagepub.com
[34]. Singh, Ajit (2008). Stock Markets in Low and Middle Income Countries. Centre for Business
Research, University of Cambridge Working Paper No. 377.
[35]. Stolbov, M. (2012). The Finance-Growth Nexus Revisited: From Origins to a Modern
Theoretical Landscape. Economics E-journal, Discussion Paper No. 2012-45.
http://www.economics-ejournal.org/economics/discussionpapers/2012-45
[36]. Tsai, Tsung-han and Gill, Jeff (2013). Interactions in Generalized Linear Models: Theoretical
Issues and an Application to Personal Vote-Earning Attributes. Soc. Sci. 2013, 2, 91-
113; doi:10.3390/socsci2020091
[37]. Yang, B.,(2011). "Does democracy foster financial development? An empirical analysis",
Economic Letters, 112, pp.262-265.