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Investigation of the Impact of Financial Intermediation Development on Economic Growth Composition Approach Using ARDL (in Persian)

Author

Listed:
  • Ezoji , Alaedin

    (Iran)

  • Tamannaiefar, Sima

    (Iran)

Abstract

Raising saving¡ level removal of financial resource obstacles to investment and increase in productivity allare require the financial structure reform and banking system improvement. This study¡ investigate the impact of financial development composition Index on economic growth in Iran by use of composition approach¡ using time series data 1352-86¡ and econometric models with ARDL and ECM method¡ test and analysis Cobb-Douglas production function for Iran. The results show that economic growth doesn't react to financial development changes (in the short time and long run). It is necessary¡ to harmonize financial sector development in finance and money services sector with macro economic objectives¡ while adjusting economic policies to rising financial and money service sector efficiency. JEL Classification: E2, E5, O4, G1, G2

Suggested Citation

  • Ezoji , Alaedin & Tamannaiefar, Sima, 2011. "Investigation of the Impact of Financial Intermediation Development on Economic Growth Composition Approach Using ARDL (in Persian)," Journal of Monetary and Banking Research (فصلنامه پژوهش‌های پولی-بانکی), Monetary and Banking Research Institute, Central Bank of the Islamic Republic of Iran, vol. 2(6), pages 69-108, March.
    • Handle: RePEc:mbr:jmbres:v:2:y:2011:i:6:p:69-108
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    More about this item

    Keywords

    Financial Development Composition Index; Monetary and Financial Institutions Services; Economic Growth; ARDL Method;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • O4 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services

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