Suchergebnisse

In this dissertation I will try to give an answer to the following question: How is development of financial markets in BRICS countries (Brazil, Russia, India, China, and South Africa) influencing their economic growth? The mentioned countries are all considered to be newly advanced economies at the similar stage of development. Even though they are very different in terms of economy, politics, history, and society, they share one single characteristic – a rapid economic growth during the last few decades. I will be focusing on several aspects of quite various financial markets in these emerging economies, such as stock, bonds, foreign exchange and derivatives markets. My mission is to analyse the impact that development of those markets left on the GDP growth of each of the BRICS countries. The general conclusion that can be drawn from my research is the following: financial markets development usually has a very positive impact on economic growth. However, in some cases, developed markets are not always a necessary precondition for growth. The situation of every country is very specific and what can be applied to one country, shouldn't necessarily be applied to the other.