Financial Deepening and Economic Growth in Developing Countries
AbstractThis note presents results from Granger-causality tests on 22 Asian, Latin American and Caribbean developing economies in an attempt to distinguish between competing hypotheses regarding the role of financial deepening in economic growth. The results suggest that in many cases financial deepening does not make much difference to economic growth: for eight countries no lead-lag relationship was detected and in six more economic growth led financial deepening. However, to the extent that financial deepening does make a difference, it is more likely to promote economic growth than to retard it.
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Bibliographic InfoArticle provided by Camera di Commercio di Genova in its journal Economia Internazionale / International Economics.
Volume (Year): 48 (1995)
Issue (Month): 3 ()
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- Jan Hanousek & Nauro F. Campos & Randall K. Filer, 2001.
"Do Stock Markets Promote Economic Growth?,"
- Randall K. Filer & Jan Hanousek & Nauro F. Campos, 1999. "Do Stock Markets Promote Economic Growth," William Davidson Institute Working Papers Series 267, William Davidson Institute at the University of Michigan.
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- Abu Nurudeen, 2009. "Does Stock Market Development Raise Economic Growth? Evidence from Nigeria," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 1(1), pages 015-026, December.
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