Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/297524 
Year of Publication: 
2020
Citation: 
[Journal:] Contemporary Economics [ISSN:] 2300-8814 [Volume:] 14 [Issue:] 2 [Year:] 2020 [Pages:] 201-218
Publisher: 
University of Finance and Management in Warsaw, Faculty of Management and Finance, Warsaw
Abstract: 
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.
Subjects: 
causality
banking sector
panel unit root
panel ARDL
JEL: 
G21
C23
O40
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.