Article

The Impact of Bank and Insurance Stock Market on GDP: Evidence from Jordan

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Abstract

The Impact of Bank and Insurance Stock Market on GDP: Evidence from Jordan 119-128 Mohammad. H.Saleh, Jamil J.Jaber and Abdullah A. Al-khawaldeh Abstract: This research is one of the first empirical studies to investigate the impact of bank and insurance stock market on GDP in an emerging market, namely, Jordan. An analysis is made of Amman Stock Exchange (ASE) includes more recent years in the analysis and used Co-integration method. In this regard this study attempts to provide additional and more recent evidence on the impact of stock market for bank and insurance sectors on economic in Jordan. Unlike other studies that have concentrated upon a banks' or insurance specific characteristics in Jordan, in this research fine distinctions are made of bank and also insurance sectors that result in many different values, which enable this research to be more distinctive in application. We divide this model for two models: The first model was the LGDP with the banks sector in the stock market. The second model was the LGDP with the insurance sector in the stock market. These models were run with Fully-Modified Least Squares (FMOLS). It is also clearly demonstrated that The bank factors of percentage of non-Jordanian ownership (NJO), turnover ratio and growth in the value traded (GVT) are found to be significant as well as all the insurance factors in second model.

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