Financial development and economic growth in India: 1970-1971 to 1998-1999
AbstractThis paper examines the causal relationship between financial development and economic growth in India for the period 1970-1971 to 1998-1999, using the techniques of unit root and cointegration analysis. The results show that, for the period under consideration, it is M3, representing financial sector development, which led GDP and not the other way around.
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Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Applied Financial Economics.
Volume (Year): 13 (2003)
Issue (Month): 12 ()
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- Nahla Samargandi & Jan Fidrmuc & Sugata Ghosh, 2014. "Is the Relationship between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle Income Countries," CESifo Working Paper Series 4743, CESifo Group Munich.
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