LEVINE, Ross <br/><br/>
Stock markets : a spur to economic growth. 

 -  1996 
<br/><br/> Notes that stock markets affect economic activity through the creation of liquidity.  Greater stock market liquidity in developing countries is linked to a rise in the amount of capital raised through bonds and bank loans.  Suggests that policy makers should consider reducing impediments to stock market development, and a good place to start would be by easing restrictions on international capital flows.