Financial Development and Economic Growth: An Empirical Analysis for the UK
AbstractThis paper investigates the relationship between financial development and economic growth for UK for the period 1965-2007 using a vector error correction model (VECM). The purpose of this paper is to examine the long-run relationship between these variables applying the Johansen cointegration analysis. Granger causality tests indicated that there is a causal relationship between financial development and economic growth for UK.
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Bibliographic InfoArticle provided by European Research Studies Journal in its journal European Research Studies Journal.
Volume (Year): XIV (2011)
Issue (Month): 2 ()
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Financial Development; Economic Growth; Granger Causality;
Find related papers by JEL classification:
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
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