Financial Development and Economic Growth: A Panel Data Approach
AbstractThe relationship between financial development and economic growth has been studied long time in economics (Adam Smith and Schumpeter). Structural reforms and the integration of financial markets have been attracting the interest of the academic community. This manuscript examines the link between financial development and economic growth. The European Union Countries (EU-27), and BRIC (Brazil, Russia, India and China) were examined, between 1980 and 2006. Using a static and dynamic panel data approach, the results demonstrate that the financial development contribute to economic growth. Our study also consider productivity and trade, these proxies confirm the positive effect on economic growth.
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Bibliographic InfoArticle provided by Asociatia Generala a Economistilor din Romania - AGER in its journal Theoretical and Applied Economics.
Volume (Year): 10(551) (2010)
Issue (Month): 10(551) (October)
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More information through EDIRC
onomic growth; financial development; panel data and globalization.;
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- Nuno Carlos LEITÃO, 2012. "Financial Management and Economic Growth: The European Countries Experience," Economia. Seria Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(2), pages 261-268, December.
- Asongu Simplice, 2013.
"Finance and growth: Schumpeter might be wrong in our era. New evidence from Meta-analysis,"
13/009, African Governance and Development Institute..
- Simplice A, Asongu, 2011. "Finance and growth: Schumpeter might be wrong in our era. New evidence from Meta-analysis," MPRA Paper 32559, University Library of Munich, Germany, revised 07 Feb 2013.
- Leitão, Nuno Carlos, 2012. "Bank credit and economic growth," MPRA Paper 42664, University Library of Munich, Germany, revised 2012.
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