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2 edition of empirical reassessment of the relationship between finance and growth found in the catalog.

empirical reassessment of the relationship between finance and growth

Giovanni Favarra

empirical reassessment of the relationship between finance and growth

by Giovanni Favarra

  • 73 Want to read
  • 34 Currently reading

Published by International Monetary Fund, European I Department in [Washington, D.C.] .
Written in English

    Subjects:
  • Economic development -- Econometric models.,
  • Liquidity (Economics) -- Econometric models.,
  • Credit -- Econometric models.,
  • Financial institutions.

  • Edition Notes

    StatementGiovanni Favara.
    GenreEconometric models.
    SeriesIMF working paper -- WP/03/123
    ContributionsInternational Monetary Fund. European I Dept.
    The Physical Object
    Pagination46 p. :
    Number of Pages46
    ID Numbers
    Open LibraryOL21062744M

      – This paper seeks to investigate the relationship between capital structure and profitability of listed firms on the Ghana Stock Exchange (GSE) during a five‐year period., – Regression analysis is used in the estimation of functions relating the return on equity (ROE) with measures of capital structure., – The results reveal a significantly positive relation between the ratio of short. China's financial industry has accelerated markedly, and the relationship between financial development and economic growth has received more and more attention [1]. In fact, the study of the relationship between financial development and economic growth is one of the key research objects of modern Western economists.

      This paper examines empirically the causal relationship among financial development, credit market and economic growth by using a trivariate autoregressive VAR model in Greece for the examined period – The results of cointegration analysis suggested that there is one cointegrated vector among the functions of stock market, the banking sector development and economic growth. analysis of the relationship between finance and growth. 3. This paper aims at providing an overview of theoretical considerations and a review of the empirical literature on the relationship between finance and growth. Section I describes the role of financial 1.

      The relationship between financial development and economic growth has been long discussed and debated. The earliest school of thought led by Joseph Schumpeter [1] posited the idea that countries with well-developed financial systems tend to grow faster than the rest. The link between stock market development and economic activity has always been the subject of considerable debate in the field of economics and it raises empirical question whether stock market development influences economic activity or whether it is a consequence of increased economic activity. This study attempts to investigate the direction of causality between stock market development.


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Empirical reassessment of the relationship between finance and growth by Giovanni Favarra Download PDF EPUB FB2

This paper reexamines the empirical relationship between financial development and economic growth. It presents evidence based on cross-section and panel data using an updated dataset, a variety of econometric methods, and two standard measures of financial development: the level of liquid liabilities of the banking system and the amount of credit issued to the private sector by banks and.

Abstract. This paper reexamines the empirical relationship between financial development and economic growth. It presents evidence based on cross-section and panel data using an updated dataset, a variety of econometric methods, and two standard measures of financial development: the level of liquid liabilities of the banking system and the amount of credit issued to the Cited by: Get this from a library.

An empirical reassessment of the relationship between finance and growth. [Giovanni Favarra; International Monetary Fund. European I Department.] -- This paper reexamines the empirical relationship between financial development and economic growth.

It presents evidence based on cross-section and panel data using an updated dataset, a variety of. Title: An Empirical Reassessment of the Relationship Between Finance and Growth - WP/03/ Created Date: 6/18/ PM.

An Empirical Reassessment of the Relationship between Finance and Growth Giovanni Favaray This Version: May Abstract This paper re-examines the empirical relationship between –nan-cial development and economic growth.

It presents evidence based on an a variety of econometric methods and two standard measures of. The sharp disagreement in economics literature about the nature of the relationship between financial development and economic growth is widely known.

Empirical evidence is. An Empirical Reassessment of the Relationship Between Finance and Growth Giovanni Favara () No 03/, IMF Working Papers from International Monetary Fund Abstract: This paper reexamines the empirical relationship between financial development and economic growth.

Summary: This paper reexamines the empirical relationship between financial development and economic growth. It presents evidence based on cross-section and panel data using an updated dataset, a variety of econometric methods, and two standard measures of financial development: the level of liquid liabilities of the banking system and the amount of credit issued to the.

The phenomenon of financial liberalization, especially afterled to the start of research on empirical investigations between financial development and growth (King & Levine, ). The relationship between economic growth and financial development has begun to be examined by establishing various models and adding variable or variables to.

Our finding of a stable long-run relationship between finance and growth among all the sample countries corroborates the important corollary of Levine () (p. ) that “although financial panics and recessions are critical issues, the finance–growth link goes beyond the relationship between finance and shorter-term fluctuations.”.

This paper examines the causal relationship between financial development and economic growth for 27 medium-income countries in the period to We develop a new proxy for financial development that refers to the input of real resources into the financial system and apply the panel bootstrapped approach to Granger causality.

Based on the theoretical model of economic growth, Pradhan (, ) investigates the causal relationships between ICT infrastructure, FD, and economic growth in Asian countries.

Their empirical results confirm the existence of causal links between ICT and FD. More empirical studies are now examining the relationship between ICT technology.

An empirical reassessment of the relations hip two way of the relation between finance and growth. Some experimental studies have been conducted to examine the efficiency of Islamic banking.

Favara, G. An empirical reassessment of the relationship between finance and growth. IMF Working Paper No:   This paper uses unit root test, cointegration test, ganger causality, and the relative data from to explore the relationship between financial development and economic growth in Shanghai.

The results show no causal relationship between financial development and economic growth, but there exists long-term equilibrium relation between them. In this piece, we highlight some of the salient issues and controversies surrounding the relationship between financial development and economic growth, from both the theoretical and the empirical.

Introduction. Econometric analysis of long-run relations has been the focus of much theoretical and empirical research in economics. In cases in which the variables in the long-run relation of interest are trend-stationary, the general practice has been to de-trend the series and to model the de-trended series as stationary autoregressive distributed-lag (ARDL) models.

Finance and Growth: Theory and Evidence 1. Introduction Economists disagree sharply about the role of the financial sector in economic growth. Finance is not even discussed in a collection of essays by the “pioneers of development economics”[Meier and Seers ()], including three Nobel Prize winners, and Nobel.

This paper reexamines the empirical relationship between financial development and growth for a large cross-section sample of some countries from to Results from cross-sectional analysis demonstrate that the effect of financial. The empirical analysis on Chinese financial development’s influence on economic growth [The master’s paper].

Jiangxi University of Finance & Economics, Nanchang () Google Scholar 4. The economic method explores the causal relationship between financial development and economic growth. The empirical analysis of the impact of financial development on economic growth and economic efficiency is proposed to promote financial marketization reform, improve capital market construction, improve the financing environment of non.

Three of the most important countries for Islamic finance growth from Middle East, namely Qatar, Bahrain, and United Arab Emirates (UAE), are selected for the study. To document the relationship between development of Islamic finance and economic growth, annually time-series data of economic growth and Islamic banks’ financing were used.

– The purpose of this paper is to provide a theoretical framework that integrates the endogenous growth and functions of financial markets and institutions theory in order to investigate how the financial market and the banking sector develop indicators that affect economic growth in these countries., – This paper is an empirical analysis of the relationship between financial development.