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:https://doi.org/10.1080/13504851.2010.548771)

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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
Faculty / School / Research Centre / Research Group:	Faculty of Business Faculty of Business > Institute of Political Economy, Governance, Finance and Accountability (IPEGFA) > Greenwich Political Economy Research Centre (GPERC) Faculty of Business > Department of International Business & Economics
Related URLs:	Publisher
Last Modified:	04 Aug 2021 16:32
URI:	http://gala.gre.ac.uk/id/eprint/7914

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