IDEAS home Printed from
   My bibliography  Save this book chapter

Private Investment and Financial Development

In: Determinants of Financial Development


  • Yongfu Huang

    (University of Cambridge)


In recent decades there has been a large body of literature studying the substantial roles that investment and financial development play in long-run economic growth (Levine and Renelt, 1992; King and Levine, 1993 among others). This chapter aims to provide an exhaustive analysis of the existence of and directions of causality between these two important aspects of economic activities, namely aggregate private investment and financial development. By exploiting the time series variation in both private investment and financial development, and allowing for global interdependence and heterogeneity across countries, this chapter suggests positive causal effects going in both directions.

Suggested Citation

  • Yongfu Huang, 2011. "Private Investment and Financial Development," Palgrave Macmillan Books, in: Determinants of Financial Development, chapter 3, pages 64-100, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-0-230-30249-5_3
    DOI: 10.1057/9780230302495_3

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below 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.


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pal:palchp:978-0-230-30249-5_3. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.