Theoretical and Applied Economics
No. 10 / 2010 (551)
Financial Development and Economic Growth: A Panel Data Approach
Polytechnic Institute of Santarém, ESGTS, Portugal
Abstract. The relationship between financial development and economic growth has been studied long time in economics (Adam Smith and Schumpeter). Structural reforms and the integration of financial markets have been attracting the interest of the academic community. This manuscript examines the link between financial development and economic growth. The European Union Countries (EU-27), and BRIC (Brazil, Russia, India and China) were examined, between 1980 and 2006. Using a static and dynamic panel data approach, the results demonstrate that the financial development contribute to economic growth. Our study also consider productivity and trade, these proxies confirm the positive effect on economic growth.
Contents
Macroeconomic Impact on CEE Corporate Profitability: Analysis at the Level of Companies Listed on the Bucharest Stock Exchange
Financial Development and Economic Growth: A Panel Data Approach
Analysis of the Value Creation in Higher Institutions: A Relational Perspective
Effects of the Formula for Common Consolidated Corporate Tax Base Apportionment
European Economics, Update. Another Ten Theses on the Economic Integration
Importance of Partnership and Cooperation for Territorial Development
To Differentiate or Not to Differentiate: A Question when Some Consumers Are Loyal
Convergence of ABC and ABM Principles – Guarantee of a Performant Management