The Relationship Between Financial Development and Economic Growth: An Analysis On Troubled Ten Countries 1990 -2014
Journal: Business and Economics Research Journal (BERJ) (Vol.7, No. 3)Publication Date: 2016-07-25
Authors : Sumeyra Gazel;
Page : 39-52
Keywords : Financial Development; Economic Growth; Troubled Ten Countries; Panel Data Analysis;
- The Relationship Between Financial Development and Economic Growth: An Analysis On Troubled Ten Countries 1990 -2014
- Economic Growth, Financial Development, Income Inequality and Poverty Relationship: An Empirical Assessment for Developing Countries
- Financial Development and Economic Growth Relationship: An Analysis with Credit Based Financial Index
- An examination of the remittance, financial development, and economic growth in developing countries
- DOSE FINANCIAL DEVELOPMENT CONTRIBUTE TO ECONOMIC GROWTH IN DEVELOPING COUNTRIES?
Abstract
This study aims to investigate relationship between financial developments and economic growth for troubled ten countries (Brazil, Colombia, Chile, South Africa, South Korea , Peru, Russia, Thailand, Singapore and Taiwan). In this context, troubled ten countries have been examined with dynamic fixed effects estimator and Common Correlated Effects Mean Group for the years 1990-2014. Gross Domestic Product per Capita was used as a proxy for economic growth in the study. On the other hand, Broad Money, Gross Capital Formation and Domestic Credit to Private Sector (% of GDP) are used as proxies for financial development. The results point to different for the long and short term. The results demonstrate that there isn’t a relationship between financial development and economic growth in the context of analyzed long-term. However, it is possible to say that there is a weak positive relationship between financial development and economic growth in short term.
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