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Algumas evidências internacionais sobre a relação entre sistema financeiro e crescimento econômico no domínio da frequência

Author

Listed:
  • Bruno de Paula Rocha

    (Cedeplar-UFMG)

  • Igor Viveiros de Souza

    (UFOP)

Abstract

This paper aims to present causality tests between financial system and economic growth in the frequency domain for Brazil, India, France, Japan, United States and Korea. This approach allows to capture nonlinearities in the direction of the causality from short to longer terms. Indeed the results show variation in causality tests depending on the frequency of the cycles considered. There is evidence of that the financial system is a causal factor for long-term economic growth in Brazil. For developed countries (United States and France) that causality is not as important once controlled by capital accumulation.

Suggested Citation

  • Bruno de Paula Rocha & Igor Viveiros de Souza, 2012. "Algumas evidências internacionais sobre a relação entre sistema financeiro e crescimento econômico no domínio da frequência," Textos para Discussão Cedeplar-UFMG 461, Cedeplar, Universidade Federal de Minas Gerais.
  • Handle: RePEc:cdp:texdis:td461
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    File URL: http://www.cedeplar.ufmg.br/pesquisas/td/TD%20461.pdf
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    More about this item

    Keywords

    economic growth; financial system; time series in frequency domain;

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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