The casual relationship between financial development and macroeconomic growth
The following paper aims to examine the existence and direction of the causality between financial development and nominal GDP by incorporating time series analysis for 4 emerging Asian economies. The results obtained provide evidence that financial development and macroeconomic growth are mutually...
| Main Author: | |
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2010
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| Online Access: | https://eprints.nottingham.ac.uk/24139/ |
| _version_ | 1848792710594428928 |
|---|---|
| author | Gupta, Karan |
| author_facet | Gupta, Karan |
| author_sort | Gupta, Karan |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | The following paper aims to examine the existence and direction of the causality between financial development and nominal GDP by incorporating time series analysis for 4 emerging Asian economies. The results obtained provide evidence that financial development and macroeconomic growth are mutually causal, supporting the existing literature. However, there is also some support for the view that economic growth leads to financial development but it is not as significant as the existence of the bidirectional causality. Additionally, the findings of the study are harmonious with the view of the World Bank that the above relationship cannot be generalised across various nations as each has a country-specific economic policy.
Keywords: Financial Development, Economic Growth, Causality. |
| first_indexed | 2025-11-14T18:48:44Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-24139 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T18:48:44Z |
| publishDate | 2010 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-241392018-01-30T21:12:57Z https://eprints.nottingham.ac.uk/24139/ The casual relationship between financial development and macroeconomic growth Gupta, Karan The following paper aims to examine the existence and direction of the causality between financial development and nominal GDP by incorporating time series analysis for 4 emerging Asian economies. The results obtained provide evidence that financial development and macroeconomic growth are mutually causal, supporting the existing literature. However, there is also some support for the view that economic growth leads to financial development but it is not as significant as the existence of the bidirectional causality. Additionally, the findings of the study are harmonious with the view of the World Bank that the above relationship cannot be generalised across various nations as each has a country-specific economic policy. Keywords: Financial Development, Economic Growth, Causality. 2010-09-24 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/24139/1/Dissertation.pdf Gupta, Karan (2010) The casual relationship between financial development and macroeconomic growth. [Dissertation (University of Nottingham only)] (Unpublished) |
| spellingShingle | Gupta, Karan The casual relationship between financial development and macroeconomic growth |
| title | The casual relationship between financial development and macroeconomic growth |
| title_full | The casual relationship between financial development and macroeconomic growth |
| title_fullStr | The casual relationship between financial development and macroeconomic growth |
| title_full_unstemmed | The casual relationship between financial development and macroeconomic growth |
| title_short | The casual relationship between financial development and macroeconomic growth |
| title_sort | casual relationship between financial development and macroeconomic growth |
| url | https://eprints.nottingham.ac.uk/24139/ |