THE IMPACT OF CAPITAL MARKETS ON THE ECONOMIC GROWTH IN SOUTH AFRICA
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Queen Sarah Khetsi, Itumeleng Pleasure Mongale 
Abstract
Capital markets are institutions that actively play a role in the development of an economy. This study investigates the impact of capital markets on economic growth in South Africa from 1971-2013. The results indicated that there is a positive relationship between economic growth and capital markets in South Africa. Furthermore, the country should focus on factors that contribute to the development of capital markets, such as the development of financial institutions. The study contributes to the existing body of empirical literature with regards to economic growth and capital markets, especially with reference to stock markets as South Africa has one of the largest stock markets (JSE) in the world.
Key Words: Capital Markets, Economic Growth and Exchange rates, Cointegration approach, South Africa
How to cite this paper: Khetsi, Q. S., & Mongale, I. P. (2015). The impact of capital markets on the economic growth in South Africa. Journal of Governance and Regulation, 4(1-1), 154-163. https://doi.org/10.22495/jgr_v4_i1_c1_p6
