Financial Development And Economic Growth New Evidence From Panel Data Pdf

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Effects of inflation on financial sector performance: New evidence from panel quantile regressions. Torres Preciado c. This paper explores the influence of inflation on the conditional distribution of financial development, an issue that has not received attention in related literature, with data from 84 countries covering the period.

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Financial development and Economic Growth: New evidence from a sample of Island Economies

Purpose : The purpose of this paper is to examine the relationship between financial development and economic growth for five major emerging economies: Brazil, Russia, India, China and South BRICS during to using banking sector and stock market development indicators. Next, using generalized method of moment system estimation SYS-GMM , the relationship between financial development and growth is investigated. The banking sector development indicators used in the study include size of the financial intermediaries, credit to deposit ratio CDR and domestic credit to private sector CPS , whereas the stock market development indicators are value of shares traded and turnover ratio. Also, some macroeconomic control variables such as inflation, exports and the enrolment in secondary education were used. Findings: The examination of the principal indicators of financial development and macroeconomic variables have shown considerable differences between the selected economies. Results from the dynamic one-step SYS-GMM estimates confirm that in presence of turnover ratio, all the selected banking development indicators such as size of financial intermediaries, CDR and CPS are positively significantly determining economic growth.

Alimi, R. The relationship between financial development and economic growth has been a key study in economics field for a long time. This paper examines the link between financial development and economic growth in 7 Sub-Saharan African countries - Nigeria, South Africa, Lesotho, Malawi, Sierra Leone, Botswana and Kenya, over the period of The study applied both static and dynamic panel data approach, to investigate the relation between financial development and economic growth. The results show that financial development has not led to economic growth in the panel of the selected countries when domestic credit provided by the banking sector is used as a proxy for financial development. The results thus lend support for the independent hypothesis postulates that financial development and economic growth are causally independent. Our study also considered foreign direct investment and interest rate as determinant of growth, but only interest rate suggested positive effect on economic growth.

Financial Development and Economic Growth: New Evidence From Panel Data

The literature on the relationship between innovation, financial development, and economic growth has attracted growing interest in recent years; however, some authors have investigated this relationship using mainly Granger causality test and focusing specially on European countries. This paper examines the causal relationship between innovation, financial development, and economic growth using panel VAR approach for 27 OECD countries over the period — This methodology has allowed us to analyze the three-way linkages between innovation, financial development, and economic growth. Most importantly, the findings revealed that there is a unidirectional causality from economic growth to financial development. The neutrality hypothesis is confirmed from financial development to economic growth as well as between innovation and economic growth and between financial development and innovation. The paper concludes that further regulation of financial systems and the quality of funding are important ingredients to foster economic development. The paper also concludes that the relationship between innovation and economic growth is complex and country-specific characteristics can play an important role in fostering innovation and productivity.

Skip to search form Skip to main content You are currently offline. Some features of the site may not work correctly. DOI: This study provides new evidence on the role of financial development in accounting for economic growth. To derive feasible policy implications, we estimate not only unbalanced panel regressions with period fixed effects, but also variance decompositions of annual GDP growth rates to examine what proxy measures are most important in economic growth over time and how much they contribute to economic growth across geographic regions and income groups.

DOI The aim of the paper is to study finance-economic growth nexus in Poland using a time series approach. We find evidence of the existence of the finance-economic growth link in Poland. The obtained results show that when using the share of households and companies in total credits, the long run empirical relationship in VECM is statistically significant and larger. In the case of Poland, empirical evidence that supports this hypothesis was found, and therefore policymakers and researchers should take bank lending structure into account.

Financial Development and Economic Growth: New Evidence From Panel Data

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Financial development and economic growth: New evidence from panel data

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