عنوان مقاله [English]
نویسندگان [English]چکیده [English]
Developed capital market is one of the characteristics of a developed economy. Developed capital markets have positive effects on savings, capital formations and economic growth. The effects of the market microstructures, including liquidity, on business cycles is vital, since it measures the effects of capital market on economy.
This research examines the relation between stock market liquidity, business cycles and economic growth, during 1380 to 1389. To measure the business cycle, the Hodrick-Prescatt filter is used, and to examine the relation between variables, the multi-variate regression techniques are applied. The results show that, there are no significant relation between stock market liquidity, business cycle and economic growth.