کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
5054911 1476536 2013 8 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Economic growth and financial development in Asian countries: A bootstrap panel Granger causality analysis
ترجمه فارسی عنوان
رشد اقتصادی و توسعه مالی در کشورهای آسیایی: تجزیه و تحلیل علیت عمومی پانل بوت استرپ
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی

This study using Kónya (2006) [Kónya, L. (2006). Exports and growth: Granger causality analysis on OECD countries with a panel data approach. Economic Modelling 23, 978-992.] method of bootstrap panel Granger causality analysis, which considers the issues of cross-sectional dependency and slope heterogeneity among countries investigated simultaneously, analyzes the causality between financial development and economic growth among ten Asian countries surveyed during period 1980 to 2007. We find that the direction of causality between financial development and economic growth is sensitive to the financial development variables used in the ten Asian countries examined in this work. Moreover, our findings support the supply-leading hypothesis, as many financial development variables lead economic growth in some of the ten Asian countries surveyed, especially in China.

► This study uses Kónya's (2006) method of bootstrap panel Granger causality test. ► Our results illustrate that using the method for Asian countries is appropriate. ► Our findings support the supply-leading hypothesis. ► Financial development leads to economic growth in the Asian countries surveyed. ► The causal direction is sensitive to the financial development variables.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 32, May 2013, Pages 294-301
نویسندگان
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