THE NEXUS BETWEEN FINANCIAL MARKET DEVELOPMENT AND ECONOMIC GROWTH IN BRICS COUNTRIES

Аннотация

This study examines the relationship between financial market development and economic growth in BRICS countries. Using panel data analysis over a specified period, the research explores the extent to which financial market development, including indicators such as market size, liquidity, depth, and efficiency, influences economic growth in Brazil, Russia, India, China, and South Africa (BRICS). The findings shed light on the dynamic interplay between financial markets and economic performance in emerging economies, providing insights into the mechanisms through which financial market development contributes to sustained economic growth in the BRICS context.