Financial development and economic growth nexus: another look at the panel evidence from different geographical regions
This paper re-examines the causality issue on financial development and economic growth from a panel data perspectives using the system generalized method of moments (GMM) technique developed by Arellano and Bover (1995), and Blundell and Bond (1998). Focusing on developing countries in four main g...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
LLC “СPС “Business Perspectives”
2011
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| Online Access: | http://psasir.upm.edu.my/id/eprint/22855/ http://psasir.upm.edu.my/id/eprint/22855/1/Financial%20development%20and%20economic%20growth%20nexus.pdf |
| _version_ | 1848844598841966592 |
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| author | Eng, Yoke Kee Habibullah, Muzafar Shah |
| author_facet | Eng, Yoke Kee Habibullah, Muzafar Shah |
| author_sort | Eng, Yoke Kee |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | This paper re-examines the causality issue on financial development and economic growth from a panel data perspectives using the system generalized method of moments (GMM) technique developed by Arellano and Bover (1995),
and Blundell and Bond (1998). Focusing on developing countries in four main geography regions (Africa, Asia,
Europe and Western Hemisphere), the main finding of the results reveals that although there exist evidence supporting the other views including the “demand following” as well as non-causal relation between the economic growth and the financial deepening, these supports are not as strong as the “supply leading” hypothesis. |
| first_indexed | 2025-11-15T08:33:28Z |
| format | Article |
| id | upm-22855 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T08:33:28Z |
| publishDate | 2011 |
| publisher | LLC “СPС “Business Perspectives” |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-228552015-09-09T07:23:24Z http://psasir.upm.edu.my/id/eprint/22855/ Financial development and economic growth nexus: another look at the panel evidence from different geographical regions Eng, Yoke Kee Habibullah, Muzafar Shah This paper re-examines the causality issue on financial development and economic growth from a panel data perspectives using the system generalized method of moments (GMM) technique developed by Arellano and Bover (1995), and Blundell and Bond (1998). Focusing on developing countries in four main geography regions (Africa, Asia, Europe and Western Hemisphere), the main finding of the results reveals that although there exist evidence supporting the other views including the “demand following” as well as non-causal relation between the economic growth and the financial deepening, these supports are not as strong as the “supply leading” hypothesis. LLC “СPС “Business Perspectives” 2011 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/22855/1/Financial%20development%20and%20economic%20growth%20nexus.pdf Eng, Yoke Kee and Habibullah, Muzafar Shah (2011) Financial development and economic growth nexus: another look at the panel evidence from different geographical regions. Banks and Bank Systems, 6 (1). pp. 62-71. ISSN 1816-7403; ESSN: 1991-7074 http://businessperspectives.org/component/option,com_journals/task,issue/id,160/jid,6/Itemid,74/ |
| spellingShingle | Eng, Yoke Kee Habibullah, Muzafar Shah Financial development and economic growth nexus: another look at the panel evidence from different geographical regions |
| title | Financial development and economic growth nexus: another look at the panel evidence from different geographical regions |
| title_full | Financial development and economic growth nexus: another look at the panel evidence from different geographical regions |
| title_fullStr | Financial development and economic growth nexus: another look at the panel evidence from different geographical regions |
| title_full_unstemmed | Financial development and economic growth nexus: another look at the panel evidence from different geographical regions |
| title_short | Financial development and economic growth nexus: another look at the panel evidence from different geographical regions |
| title_sort | financial development and economic growth nexus: another look at the panel evidence from different geographical regions |
| url | http://psasir.upm.edu.my/id/eprint/22855/ http://psasir.upm.edu.my/id/eprint/22855/ http://psasir.upm.edu.my/id/eprint/22855/1/Financial%20development%20and%20economic%20growth%20nexus.pdf |