ECONOMIC managers should strengthen the Philippine Stock Exchange (PSE) because that could accelerate growth. A stock market is, to use a technical term, a financial intermediary that links people who have funds that can be invested with firms that need capital. Banks perform the same function, but in a well-functioning stock market, investors or those with excess funds can potentially earn more than putting money away in a savings account. Companies can use the money raised from selling stocks to expand their businesses or fund new projects. And when private firms invest, the general economy benefits. Remember that private investments are a component of gross domestic product (GDP).
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