Finance and Macroeconomic Performance. Some Evidence for Emerging Markets
AbstractThis paper examines whether financial-sector development in several emerging markets affects their real economic activity. Results from cointegration and error correction models suggest that financial deepening (alternatively measured) exerts a robust longterm stimulating effect on real economic activity (both overall and sectoral) in all countries examined. However, short-term effects of financial deepening prove generally nonexistent, or tenuous at best. The results suggest that improving the structure and operation of the financial sector in emerging markets does stimulate real growth, but only if such improvement persists over a prolonged period of time.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by M.E. Sharpe, Inc. in its journal Emerging Markets Finance and Trade.
Volume (Year): 42 (2006)
Issue (Month): 3 (May)
Contact details of provider:
Web page: http://mesharpe.metapress.com/link.asp?target=journal&id=111024
cointegration; emerging markets; error correction models; financial deepening; real economic growth;
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Muhammad Arshad Khan & Abdul Qayyum, 2006.
"Trade Liberalisation, Financial Sector Reforms, and Growth,"
The Pakistan Development Review,
Pakistan Institute of Development Economics, vol. 45(4), pages 711-731.
- Khan, M. Arshad & Qayyum, Abdul, 2006. "Trade Liberalization, Financial Sector Reforms and Growth," MPRA Paper 2655, University Library of Munich, Germany, revised 2006.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Nguyen).
If references are entirely missing, you can add them using this form.