Financial Development and Economic Growth in Selected Asian Economies : a Dynamic Panel ARDL Test

• Autorzy: Shravani Sharma , Supran Kumar Sharma
• Języki publikacji: EN

Abstrakty

EN

The present endeavor measures the extent of the nexus between financial development and economic growth by utilizing annual macroeconomic panel data for selected 14 Asian economies. The study focuses on the link between the indicators of financial development and economic growth. The results of panel cointegration analysis suggest that there is two-way cointegration relationship from GDP to GCF and BM in short-run as well as in long-run however, the relationship is one-way, that is, from GDP to DCPS as well as from GDP to DCBS. The findings of the present study establish strong indications of the positive long-run relationship among all the selected indicators of financial development and economic growth. Moreover, the present attempt also indicates that gross capital formation and broad money are critical for economic growth and suggests that upliftment of economic growth of the economies improves the development of financial sector. (original abstract)

Słowa kluczowe

EN

Causality; Banking sector; Unit root test

PL

Przyczynowość; Sektor bankowy; Test pierwiastka jednostkowego

• Czasopismo: Contemporary Economics
• Rocznik: 2020
• Tom: 14
• Numer: nr 2
• Strony: 201--218

Twórcy

autor

Shravani Sharma

• Shri Mata Vaishno Devi University, India

autor

Supran Kumar Sharma

• Shri Mata Vaishno Devi University, India

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Identyfikatory

DOI

10.5709/ce.1897-9254.400