the relationship between economic growth and developments in the ‎financial sector has been one of the most discussed areas in economics ‎for a long time; and the direction of causality – whether financial ‎development causes economic growth or vice versa – is by no means a ‎settled issue.‎this paper investigates the short- run and long-run granger causality ‎between financial development and e...

development of financial markets as an important factor in the economic growth process always has been of interest to economists. the purpose of this paper is to study the relationship between regional financial development and economic growth. this study uses provincial annual data over the period 2000-2011 by using panel data technique. the panel co integration techniques have been used to te...

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...

The paper examines the causal nexus between financial development and economic growth in India in a multivariate VAR model. The empirical analysis is based on cointegration and causality test. The cointegration test finds the presence of long run equilibrium relationship between financial development and economic growth. The Granger causality test finds the existence of bidirectional causality ...

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 deve...

The paper examines the causal nexus between financial development, economic growth and poverty reduction in India during 1951-2008. The empirical analysis is based on cointegration and causality test. The cointegration test finds the presence of long run equilibrium relationship between financial development, economic growth and poverty reduction. The Granger causality test at the end confirms ...

This study aims to evaluate the link between economic growth and consumer price index (CPI) in Japan for the period of 1980-2014. Initial series were adjusted for stationarity using the Augmented Dickey- Fuller (ADF) test for unit root followed by the application of Johansen Co-integration Test in order to examine the long-run relationship among the variables, while the causalities were evaluat...

Failure to timely identify the occurrence of various shocks in the foreign exchange market due to the close relationship with the monetary, macroeconomic, and financial uncertainty can lead to crises and imbalances. In this paper, the effect of exchange rate and investor confidence on monetary and economic uncertainty in Iran is investigated, specifying a Multivariate GARCH model and the Grange...