Politická ekonomie
Politická ekonomie
Politická ekonomie
TEORETICKÝ ČASOPIS • ISSN 0032-3233 (Print) • ISSN 2336-8225 (Online)

Politická ekonomie Vol. 64 No. 8

Akciovový trh verzus reálna ekonomika a jej indikátor HDP

DOI: https://doi.org/10.18267/j.polek.1119

[plný text (PDF)]

Božena Chovancová, Peter Árendáš

The idea of a positive relation between the real economy and share markets used to be supported by long-term analyses during the 20th century. As a result, the share market was supposed to be a "mirror" of the economy. The share markets tended to outrun the GDP development by a couple of quarters. On the other hand some researchers keep on pointing at some anomalies in the relation between share markets and the real economy in the short-term to midd-term time horizon in some countries. This problem was fully to see over the first decade of the 21st century that was typical for the changes in the structure of the global economy as well as for the increasing frequency of share market bubbles without an adequate economic growth. The aim of this paper is to show a new perspective on the relation between the share market and the real economy and to seek the reasons of their often contradictory development.

JEL klasifikace: G11, G12

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Databázy

WORLD BANK Development Indicators , dostupné na http://www.worldbank.org

WFE – World Federation of Exchange, dostupné na http// www.world-exchanges.org

NBER – National Bureau of Economic Research dostupné na http://www.nber.org/

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