Resumen

CRUZ, Vivian; MONGRUT, Samuel; CASTILLO DIEGUEZ, Roberto  y  ALVAREZ FRANCO, Pilar. Impact of Stock Market Liquidity on Economic Growth: Evidence from BRICS Countries. The Anáhuac j. [online]. 2025, vol.25, n.2, e2872.  Epub 26-Ene-2026. ISSN 2683-2690.  https://doi.org/10.36105/theanahuacjour.2025v25n2.2872.

This paper examines the relationship between stock market liquidity and economic growth in five emerging countries: Brazil, Russia, India, China, and South Africa, collectively referred to as the BRICS as of 2017. Using a dynamic panel data model, we find that proxies for stock market liquidity contain leading information about the real economy. Our results are robust even after controlling for macroeconomic covariates that affect both stock market and economic growth. We provide evidence that stock market liquidity contains strong and reliable information about the economic condition of BRICS during the period 2010-2017. Our study sheds light on the fact that stock market liquidity contains prospective news and information about the future state of economic growth.

Palabras llave : BRICS; liquidity; economic growth; stock market; G10; E32; O16.

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