Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries

Popis výsledku anglicky

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.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

—

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

World Development

ISSN

0305-750X

e-ISSN

—

Svazek periodika

68

Číslo periodika v rámci svazku

APR 2015

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

16

Strana od-do

66-81

Kód UT WoS článku

000350075200005

EID výsledku v databázi Scopus

2-s2.0-84937115740