Finance-growth nexus revisited for some Asian countries
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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)
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Abstract
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.
| Item Type: | Article |
|---|---|
| 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 |
| School / Department / Research Groups: | School of Business School of Business > Department of International Business & Economics |
| Related URLs: | |
| Last Modified: | 13 Apr 2012 11:55 |
| URI: | http://gala.gre.ac.uk/id/eprint/7914 |
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