Innovation, financial development and economic growth in Eurozone countries

被引：130

作者：

Pradhan, Rudra P. ^{[1
]}

Arvin, Mak B. ^{[2
]}

Hall, John H. ^{[3
]}

Nair, Mahendhiran ^{[4
]}

机构：

[1] Indian Inst Technol, Vinod Gupta Sch Management, Kharagpur 721302, W Bengal, India

[2] Trent Univ, Dept Econ, Peterborough, ON, Canada

[3] Univ Pretoria, Dept Financial Management, Pretoria, South Africa

[4] Monash Univ Malaysia, Sch Business, Kuala Lumpur, Malaysia

来源：

APPLIED ECONOMICS LETTERS | 2016年 / 23卷 / 16期

关键词：

Innovation; financial development; economic growth; Granger causality; Eurozone countries; ENTREPRENEURSHIP;

D O I：

10.1080/13504851.2016.1139668

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using a panel vector auto-regressive model, we study interactions between innovation, financial development and economic growth in 18 Eurozone countries between 1961 and 2013. We focus on whether causality runs between these variables both ways, one way, the other way or not at all. Our empirical results show that development of the financial sector and enhanced innovative capacity in the Eurozone contributes to long-term economic growth in the countries in the region.

引用

页码：1141 / 1144

页数：4

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