This paper assesses the stock market development and economic growth in these BRICS nations. In doing this, quarterly time series data from 1994 to 2014 was sourced from World Bank Indicators. | Stock market development and economic growth of Brazil Russia India China and South African BRICS Nations An empirical research Accounting 4 2018 83 92 Contents lists available at GrowingScience Accounting homepage ac Stock market development and economic growth of Brazil Russia India China and South African BRICS Nations An empirical research Sunday Ogbeidea and Babatunde Akanjib a Department of Accounting and Finance Faculty of Social and Management Sciences Elizade University Ilara- Mokin Ondo State Nigeria bDepartment of Human Resource Management Faculty of Social and Management Sciences Elizade University Ilara-Mokin Ondo State Nigeria CHRONICLE ABSTRACT Article history BRICS connotes five main emerging national economies Brazil Russia India China and Received March 17 2017 South Africa are particularly distinguished as nations experiencing expanded market Received in revised format May opportunities and countries discovered to be at stages of newly advanced economic 11 2017 development. This paper assesses the stock market development and economic growth in these Accepted June 20 2017 Available online BRICS nations. In doing this quarterly time series data from 1994 to 2014 was sourced from June 21 2017 World Bank Indicators. The Panel Generalized method based on the fixed effect estimation Keywords was employed to determine how stock market development affects the economic growth of Real gross domestic product BRICS. Diagnostic tests were conducted to ascertain the robustness and stability of the Market capitalization regression results after carrying out the unit root calculations. The findings reveal that stock Turnover ratio market development exerts significant impact on the economic growth. The study further Total value of shares traded ratio reveals that there was a positive correlation between stock market development indicators and and inflation rate BRICS s economic growth. It is therefore proposed that the .
