The Nexus between Financial Development and Economic Growth in Lao PDR

被引：25
|
作者：
Kyophilavong, Phouphet [1 ]
Uddin, Gazi Salah [2 ]
Shahbaz, Muhammad [3 ]
机构：
[1] Natl Univ Laos, Fac Econ & Business Management, Res Div, Viangchan, Laos
[2] Linkoping Univ, Dept Management & Engn, Linkoping, Sweden
[3] COMSATS Inst Informat Technol, Dept Management Sci, Lahore, Pakistan
来源：
GLOBAL BUSINESS REVIEW | 2016年 / 17卷 / 02期
关键词：
Finance-growth nexus; ARDL approach; Granger causality; Laos;
D O I：
10.1177/0972150915619809
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The relationship between financial development and economic growth is not conclusive in the existing economics literature. The aim of this article is to test two hypotheses, 'supply-leading' hypothesis and 'demand-following' hypothesis, using time series data from Laos. The autoregressive distributed lag (ARDL) bounds testing approach to cointegration is used to carry out this task. Our results confirm the presence of feedback effect between both the variables. Financial development promotes economic growth and as a result, economic growth leads to financial development.
引用
收藏
页码：303 / 317
页数：15
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