File Name: financial development and economic growth new evidence from panel data .zip
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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.
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. In our data we show the presence of fixed effects, reject cross-sectional dependence in the error structure and justify poolability. Our empirical strategy employs standard and fixed-effects quantile regressions to demonstrate that the influence of inflation varies along the quantiles of the conditional finance distribution. In general, we find a consistently negative and nonlinear effect of price increases on financial variables; in particular, it is statistically significant in the full sample of countries, significant in developing countries, and insignificant in developed countries. Does the finance-inflation relationship deserve to be reexamined at these times when economies are more stable in macroeconomic terms?
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.
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.
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. View on SSRN.
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.
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