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@article{175003,
        author = {Mr. Tusharkumar Prashantbhai Solanki and Mr. Prashant Solanki and Dr. Rohtash Bhall},
        title = {The Role of Financial Markets in Economic Growth: A Comparative Study of Emerging and Developed Economies},
        journal = {International Journal of Innovative Research in Technology},
        year = {2025},
        volume = {11},
        number = {11},
        pages = {1642-1655},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=175003},
        abstract = {This study investigates the interdependence of institutional quality and fintech innovations in shaping financial market efficiency and macroeconomic growth, comparing emerging economies (India, China, Brazil) with developed markets (U.S., U.K.). While institutional governance enhances market stability and investor confidence through regulatory enforcement, fintech innovations improve liquidity, capital flows, and cross-border investment mechanisms. Literature studies these factors independently instead of exploring their combined effect on financial market development.
Analyses utilizing World Bank and IMF and BIS data back the conclusion that institutionally strong economies leverage fintech solutions better for capital optimization and risk management. The effectiveness of fintech applications in emerging economies depends on their governance strength since these economies use fintech to deal with regulatory shortcomings and expand financial inclusion. The study shows that regulatory standards need consistent development to achieve a balance between financial system stability and fintech implementation which will create economic resilience throughout digital transformation.},
        keywords = {Financial Markets, Economic Growth, Emerging Economies, Developed Economies, Financial Development, Institutional Frameworks and Governance, FinTech Innovations, Financial Inclusion and Accessibility, Regulatory Frameworks, emerging vs. Developed Markets},
        month = {April},
        }