Financial Deepening and Economic Growth Linkages: A Panel Data Analysis

被引：0
|
作者：
Nicholas Apergis
Ioannis Filippidis
Claire Economidou
机构：
[1] University of Piraeus,Utrecht School of Economics
[2] University of Utrecht,undefined
来源：
Review of World Economics | 2007年 / 143卷
关键词：
Financial development; growth; panel cointegration; panel causality;
D O I：
暂无
中图分类号：
学科分类号：
摘要：
The paper examines whether a long-run relationship between financial development and economic growth exists employing panel integration and cointegration techniques for a dynamic heterogeneous panel of 15 OECD and 50 non-OECD countries over the period 1975–2000. Three different measures of financial deepening are used to capture the variety of different channels through which financial development can affect growth. Our findings support the existence of a single long-run equilibrium relation between financial deepening, economic growth and a set of control variables. Further, the evidence points to a bi-directional causality between financial deepening and growth.
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页码：179 / 198
页数：19
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