FINANCIAL DEVELOPMENT-ECONOMIC GROWTH NEXUS: A PANEL DATA ANALYSIS UPON OECD COUNTRIES

Please use this identifier to cite or link to this item: http://earsiv.odu.edu.tr:8080/xmlui/handle/11489/2893

Title:	FINANCIAL DEVELOPMENT-ECONOMIC GROWTH NEXUS: A PANEL DATA ANALYSIS UPON OECD COUNTRIES
Authors:	Akinci, Gonul Yuce Akinci, Merter Yilmaz, Omer Ordu Üniversitesi 0000-0002-5449-0207 0000-0002-5900-7114
Keywords:	financial developmenteconomic growthpanel cointegration testpanel Granger causality test TIME-SERIES EVIDENCESTABILIZATION POLICYCOINTEGRATIONREPRESSIONINTERMEDIATIONINVESTMENTREGRESSIONMARKETSTESTS
Issue Date:	2014
Publisher:	HITOTSUBASHI UNIVHITOTSUBASHI ACADEMY KUNITACHI, TOKYO, JAPAN
Abstract:	In this paper, the link between financial development and economic growth in OECD member countries is investigated using unbalanced panel cointegration and causality analysis for the period 1980-2011. The results of the Pedroni and Kao Cointegration Analysis show the existence of long-run relationship between financial development and economic growth. The result of Granger Causality Analysis indicates that there is a unidirectional causality relationship running from economic growth to the three proxy variables for financial development while a bidirectional relationship between broad measure of money and economic growth is observed. Therefore, it can be said that the demand-following phenomenon is dominant.
URI:	http://doi.org/10.15057/26816 http://earsiv.odu.edu.tr:8080/xmlui/handle/11489/2893
Appears in Collections:	İşletme

Files in This Item:

There are no files associated with this item.