کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5056519 | 1371640 | 2011 | 13 صفحه PDF | دانلود رایگان |
![عکس صفحه اول مقاله: Further evidence on finance-growth causality: A panel data analysis Further evidence on finance-growth causality: A panel data analysis](/preview/png/5056519.png)
This paper reassesses the causal relationship between financial development and economic growth. Using recently developed panel methods on a data set of 71 developed and developing countries over the period 1960-2004, our study confirms previous results of a bidirectional causality between finance and growth. In addition, we show significant differences among country groups when considering both long-run and short-run causality. While in low and middle income countries there is no supportive evidence of short-run causality between financial development and economic growth, in high income countries economic growth significantly affects financial development.
Research highlights⺠This paper reassesses the causal relationship between financial development and economic growth. ⺠We use recently developed panel methods on 71 countries over the period 1960-2004. ⺠Our study confirms bidirectional causality between financial development and growth. ⺠Furthermore, our results show significant differences among country groups when considering both long-run and short-run causality.
Journal: Economic Systems - Volume 35, Issue 2, June 2011, Pages 176-188