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Finansiel udvikling og økonomisk vækst

Author

Listed:
  • Andersen, Thomas Barnebeck

    (Development Economics Research Group (DERG), Økonomisk Institut, Københavns Universitet)

Abstract

Recent time-series studies, using cointegration techniques, have found evidence of causality from financial sector development to economic growth in South Korea, India and Thailand. In this paper, the cointegration-based studies are examined by using a newly-developed modified WALD test. This test fails to establish causality. Theory and other empirical evidence support this result. Hence, we argue that finan cial liberalization based on the assumption that financial sector development will automa - tically boost economic growth is not likely to be successful.

Suggested Citation

  • Andersen, Thomas Barnebeck, 2001. "Finansiel udvikling og økonomisk vækst," Nationaløkonomisk tidsskrift, Nationaløkonomisk Forening, vol. 2001(1), pages 79-95.
    • Handle: RePEc:hhs:jdaecn:0255
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    Keywords

    finansiel udvikling; vækst;

    JEL classification:

    • A10 - General Economics and Teaching - - General Economics - - - General

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