Financial sector development and economic growth: The South-Asian experience
This article investigates the relationship between financial sector development and economic growth for three majors South-Asian economies, namely, India, Pakistan, and Sri Lanka. The standard Granger causality tests are employed to determine the pattern of causal linkage between various measures of...
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| Veröffentlicht in: | Journal of Asian economics 1998, Vol.9 (3), p.503-517 |
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| container_title | Journal of Asian economics |
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| creator | Ahmed, S.M. Ansari, M.I. |
| description | This article investigates the relationship between financial sector development and economic growth for three majors South-Asian economies, namely, India, Pakistan, and Sri Lanka. The standard Granger causality tests are employed to determine the pattern of causal linkage between various measures of financial sector development and economic growth. Also, several regression equations are estimated, using the Cobb-Douglas production function framework, in order to analyze the impact of financial sector development on economic growth. Results from causality analysis indicate that financial sector development causes economic growth in the Granger sense. This seems to validate the supply-leading hypothesis. The regression results, using pooled data based on time-series and cross-sectional observations, reinforce the findings of the causality analysis, suggesting that financial sector development has indeed made a significant contribution to economic growth in these countries. |
| doi_str_mv | 10.1016/S1049-0078(99)80100-6 |
| format | Article |
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| ispartof | Journal of Asian economics, 1998, Vol.9 (3), p.503-517 |
| issn | 1049-0078 1873-7927 |
| language | eng |
| recordid | cdi_proquest_journals_274555225 |
| source | RePEc; PAIS Index; EBSCOhost Business Source Complete; ScienceDirect Journals (5 years ago - present) |
| subjects | Causality Economic development Economic growth Financial institutions Financial services Growth models Hypotheses Interest rates Liberalization Securities markets Technology adoption |
| title | Financial sector development and economic growth: The South-Asian experience |
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