Latin American stock markets liquidity and their impact in the per capita economic growth

Abstract

© Revista de Economía del Rosario. This article provides empirical evidence regarding the influence of the liquidity of the stock market for economic growth, for a sample of 11 Latin American countries. For this purpose, researchers used panel data estimated by the generalized moment method (gmm), as well as variants of the model. The liquidity indicator: turn over, presented a negative sign, which is contrary to what is typically expected. Broadly, it is possible to conclude that liquidity influences economic growth. In addition, there are countries that can be considered atypical; because of this, the analysis was carried out with and without them. However, the results are maintained. The study corresponds partially to the existing literature.