Efficiency Of The Financial Intermediaries And Economic Growth In Ceec

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Efficiency Of The Financial Intermediaries And Economic Growth In Ceec

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Andrus Oks

Abstract

This paper presents an analytical discussion and empirical evidence of the relationship between financial sector development and economic growth among Central and Eastern European countries. Theoretical views allow for the complex relationship between the financial sector development and economic growth. Empirical evidence is presented that depending on the time period and sub-sample the correlation of the financial development with economic growth can be negative or positive. Using monthly data the causality (in Granger sense) of this process is addressed - the causality can run one way or the other, depending on the particular country.

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Paper provided by Faculty of Economics and Business Administration, University of Tartu (Estonia) in its series University of Tartu - Faculty of Economics and Business Administration Working Paper Series with number 8.

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Length: 33 pages
Date of creation: 2001
Date of revision:
Handle: RePEc:mtk:febawb:08

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