Finance-growth nexus revisited for some Asian countries
Mukhopadhyaya, Bidisha, Pradhana, Rudra P. and Feridun, Mete (2011) Finance-growth nexus revisited for some Asian countries. Applied Economics Letters, 18 (6). pp. 1527-1530. ISSN 1350-4851 (Print), 1466-4291 (Online) (doi:10.1080/13504851.2010.548771)Full text not available from this repository.
This article investigates the causal relationship between financial development and economic growth for Thailand, Indonesia, Malaysia, the Philippines, China, India and Singapore for the period between 1979 and 2009, using Johansen cointegration tests and vector error correction models. The results suggest that in the case of Indonesia, Singapore, the Philippines, China and India financial development leads to economic growth, whereas in the case of Thailand there exists a bidirectional causality between these variables. The results further suggest that in the case of Malaysia financial development does not seem to cause economic growth.
|Uncontrolled Keywords:||financial development, economic growth, Thailand, Indonesia, Malaysia, the Philippines, China, India, Singapore, Johansen cointegration tests, vector error correction models, bidirectional causality|
|Subjects:||H Social Sciences > HB Economic Theory
H Social Sciences > HG Finance
|Faculty / Department / Research Groups:||Faculty of Business
Faculty of Business > Greenwich Political Economy Research Centre (GPERC)
Faculty of Business > Department of International Business & Economics
|Last Modified:||02 Nov 2016 13:52|
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