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dc.contributor.authorCaporale, Guglielmo Mariaen_US
dc.contributor.authorRault, Christopheen_US
dc.contributor.authorSova, Roberten_US
dc.contributor.authorSova, Anamariaen_US
dc.date.accessioned2009-10-27en_US
dc.date.accessioned2010-02-04T13:05:52Z-
dc.date.available2010-02-04T13:05:52Z-
dc.date.issued2009en_US
dc.identifier.urihttp://hdl.handle.net/10419/29733-
dc.description.abstractThis paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the stock and credit markets are still underdeveloped in these economies, and that their contribution to economic growth is limited owing to a lack of financial depth. By contrast, a more efficient banking sector is found to have accelerated growth. Furthermore, Granger causality test indicate that causality runs from financial development to economic growth, but not in the opposite direction.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion papers // German Institute for Economic Research 940en_US
dc.subject.jelE44en_US
dc.subject.jelE58en_US
dc.subject.jelF36en_US
dc.subject.jelP26en_US
dc.subject.ddc330en_US
dc.subject.keywordFinancial developmenten_US
dc.subject.keywordeconomic growthen_US
dc.subject.keywordcausality testsen_US
dc.subject.keywordtransition economiesen_US
dc.subject.stwFinanzsektoren_US
dc.subject.stwEntwicklungen_US
dc.subject.stwWirtschaftswachstumen_US
dc.subject.stwKausalanalyseen_US
dc.subject.stwEU-Staaten (Osteuropa)en_US
dc.titleFinancial development and economic growth: evidence from ten new EU membersen_US
dc.typeWorking Paperen_US
dc.identifier.ppn611469170en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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