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|Title:||Financial development and economic growth: evidence from transition economies||Contributor(s):||Akimov, Alexandr (author); Wijeweera, Albert (author); Dollery, Brian E (author)||Publication Date:||2009||DOI:||10.1080/09603100701857880||Handle Link:||https://hdl.handle.net/1959.11/3022||Abstract:||The hypothesis that financial development promotes economic growth enjoys significant support from empirical evidence drawn from both developed and developing countries alike. However, analogous empirical evidence is still lacking for economies in transition. This article analyses the effects of financial intermediation on the growth of real GDP by employing data for 27 countries over the period of 1989 to 2004. Using an endogenous growth model and panel data analysis techniques, we estimate regressions with various proxies for financial sector development. We find that in contrast to some recent empirical work, there is a robust positive link between financial development and economic growth in transition economies.||Publication Type:||Journal Article||Source of Publication:||Applied Financial Economics, 19(12), p. 999-1008||Publisher:||Routledge: Taylor & Francis Group||Place of Publication:||London, England||ISSN:||0960-3107||Field of Research (FOR):||140202 Economic Development and Growth||Socio-Economic Objective (SEO):||910206 Market-Based Mechanisms||Peer Reviewed:||Yes||HERDC Category Description:||C1 Refereed Article in a Scholarly Journal||Statistics to Oct 2018:||Visitors: 827|
|Appears in Collections:||Journal Article|
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