Financial Development and Economic Growth: An Empirical Analysis for the UK
نویسندگان
چکیده
This paper investigates the relationship between financial development and economic growth for UK for the period 1965-2007 using a vector error correction model (VECM). The purpose of this paper is to examine the long-run relationship between these variables applying the Johansen cointegration analysis. Granger causality tests indicated that there is a causal relationship between financial development and economic growth for UK.
منابع مشابه
Effects of Trade and Financial Liberalization on Financial Development (Case Study: MENA Countries)
Financial sector is one of the most influential sectors in economic activities. Empirical and theoretical studies conducted in recent years have also confirmed the significant role of financial institutions in economic growth. Additionally, trade and financial liberalization policies have been particular concerned with strategic policies in developed and developing countries. According to dynam...
متن کاملتأثیر اصلاحات مالی بر رشد اقتصادی و ایجاد همگرایی بین کشورهای برگزیدهی اسلامی
The theoretical literature of economic growth (endogenous and exogenous growth model) and empirical evidence in developed and developing countries show that without financial reform, sustainable development is impossible. The positive effects of financial sector development on economic growth and developments in the international financial sector make a more important issue. Some economists bel...
متن کاملنقش بدهی عمومی و رویکرد سیاستی دولت بر توسعه مالی در ایران
Abstract Empirical studies have shown that financial development triggers economic growth through various ways, hence it is of primary importance to understand factors enhancing financial sector development. Based on economic literature, government plays a key role in financial sector development through his financial policies and budget structure. This study aims to investigate Iranian governm...
متن کاملEffect of financial development and institutional quality on the environmental degradation in developed and developing countries
Environmental pollutants have become a dreadful problem and burning issues for the present world irrespective of a country who is responsible for it. The objective of the study is to investigate impact of financial development and institutional quality on environmental degradation. The study is based on panel data for developing and developed countries over the time of 1996-2016. For the empiri...
متن کاملInvestigating Causal Relationship between Financial Development Indicators and Economic Growth: Toda and Yamamoto Approach
T he Causal relationship between financial development and economic growth has received divergent views in the literature under the traditional Granger approach to causality using data from various countries. The more recent Toda and Yamamoto and Dolado and Lütkepohl (TYDL) approach to causality were used to investigate the causal relationship between financial development and econom...
متن کامل