Human Capital and Economic Development: Allowing for Causality and Feedback Effects in a VAR Framework
AbstractExisting literature has delat inadequately with the casuality lissue in the ink between financial development and economic growth. The paper investigates the empirical link between financial development and economic performance for the small island developing state of Mauritius using a unique time series data set over the period 1952-2004. The analysis uses a VECM framework which allows for dynamic and feedback effects. The results suggest that financial development has been contributing to the output level of the economy in both the short and long-run. It thus highlights the economic importance of financial development and provides new evidence for the case of island economies using the recent cointegration approach.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoArticle provided by IUP Publications in its journal The IUP Journal of Applied Economics.
Volume (Year): VI (2007)
Issue (Month): 1 (January)
Contact details of provider:
You can help add them by filling out this form.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (G R K Murthy).
If references are entirely missing, you can add them using this form.