Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F15%3A10297797" target="_blank" >RIV/00216208:11230/15:10297797 - isvavai.cz</a>
Result on the web
<a href="http://dx.doi.org/10.1016/j.worlddev.2014.11.010" target="_blank" >http://dx.doi.org/10.1016/j.worlddev.2014.11.010</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1016/j.worlddev.2014.11.010" target="_blank" >10.1016/j.worlddev.2014.11.010</a>
Alternative languages
Result language
angličtina
Original language name
Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries
Original language description
We revisit the relationship between financial development and economic growth in a panel of 52 middle-income countries over the 1980-2008 period. Using pooled mean group estimations in a dynamic heterogeneous panel setting, we show that there is an inverted U-shaped relationship between finance and growth in the long run. In the short run, the relationship is insignificant. This suggests that too much finance can exert a negative influence on growth in middle-income countries. The finding of a non-monotonic effect of financial development on growth is confirmed by estimating a threshold model. (C) 2014 Elsevier Ltd. All rights reserved.
Czech name
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Czech description
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Classification
Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
World Development
ISSN
0305-750X
e-ISSN
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Volume of the periodical
68
Issue of the periodical within the volume
APR 2015
Country of publishing house
GB - UNITED KINGDOM
Number of pages
16
Pages from-to
66-81
UT code for WoS article
000350075200005
EID of the result in the Scopus database
2-s2.0-84937115740