Financial development and economic growth in emerging market: bootstrap panel causality analysis
In this study, it was investigated whether there is a causality relationship between financial development and economic growth in emerging market countries. Data from the period between 1988 and 2013 was analyzed using the bootstrap panel causality test, which takes cross-section dependence and hete...
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| Format: | Article |
| Language: | English |
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General Association of Economists from Romania
2015-09-01
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| Series: | Theoretical and Applied Economics |
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| Online Access: |
http://store.ectap.ro/articole/1118.pdf
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| Summary: | In this study, it was investigated whether there is a causality relationship
between financial development and economic growth in emerging market countries. Data
from the period between 1988 and 2013 was analyzed using the bootstrap panel causality
test, which takes cross-section dependence and heterogeneity into account. The results of
the test showed that there is a weak causal relationship between economic growth and
financial development support the neutrality hypothesis in emerging countries, except for
Turkey. |
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| ISSN: | 1841-8678 1844-0029 |