IDEAS home Printed from
MyIDEAS: Login to save this article or follow this journal

The Linkage between Financial Liberalization and Economic Development: Empirical Evidence from Poland

  • Asteriou, Dimitrios


    (City University, London)

This paper uses time series empirical data on six key indicators of financial liberalization in Poland to explore the linkage between financial liberalization and economic growth. We begin with a survey of the financial liberalization process and then use monthly empirical data covering the period 1990-2002 to examine the linkages between financial liberalization and economic development. The results of our study indicate that not only is there evidence of a long run positive linkage between financial liberalization and economic growth but also that there is strong evidence to indicate that the direction of causation runs from the former to the latter and not vice-versa. Evidence from all six of the financial indicators (Turnover, Capitalization, narrow money M0, broad money M2, Depth and Share Prices) indicates that they raise industrial production while the latter causes financial development in only two of the cases.

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Article provided by Center for Economic Integration, Sejong University in its journal Journal of Economic Integration.

Volume (Year): 20 (2005)
Issue (Month): ()
Pages: 383-399

in new window

Handle: RePEc:ris:integr:0321
Contact details of provider: Web page:

More information through EDIRC

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Dimitrios Asteriou & Simon Price, 2000. "Financial Development and Economic Growth: Time Series Evidence for the case of UK," Ekonomia, Cyprus Economic Society and University of Cyprus, vol. 4(2), pages 122-141, Winter.
  2. Granger, C. W. J., 1988. "Some recent development in a concept of causality," Journal of Econometrics, Elsevier, vol. 39(1-2), pages 199-211.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:ris:integr:0321. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jong-Eun Lee)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.