The role of financial market in economic recovery:: case Côte d'Ivoire

The contribution of the financial market to economic recovery is a subject of debate in economic theory. To this end, this book presents an empirical assessment of the interrelationship between the financial market and post-crisis economic recovery in Côte d'Ivoire. To achieve this objective, our study provides a non-exhaustive review of the existing literature. It generally emerges that the financial market is a significant and positive determinant of economic growth. To test this relationship, this study employs a methodological approach comprising three (03) distinct and complementary stages. The literature review establishes an indirect relationship between the financial market and economic growth. Subsequently, the statistical analysis utilises the linear correlation coefficient between each financial market indicator and economic growth. Finally, the econometric approach demonstrates the significance of the financial market in general, and of its indicators in particular, on economic growth. Using data from the World Bank (1980-2010) at a 5 per cent confidence level, this approach concludes that the financial market does not have a significant impact on economic growth.