Causal Relationship between Economic Growth, Financial Deepening, Foreign Direct Investment and Innovation: Evidence from China
| Autor: | Muhammad Asif Khan, Mollah Aminul Islam, Haiyun Liu, Sultanuzzaman Md Reza, Layla Nasrin, Yassin Elshain Yahia |
|---|---|
| Rok vydání: | 2018 |
| Předmět: |
040101 forestry
050208 finance Cointegration 05 social sciences Context (language use) 04 agricultural and veterinary sciences Monetary economics Foreign direct investment Development General Business Management and Accounting Financial deepening Granger causality Absorptive capacity Spillover effect 0502 economics and business Economics 0401 agriculture forestry and fisheries China General Economics Econometrics and Finance |
| Zdroj: | Asian Economic and Financial Review. 8:1086-1101 |
| ISSN: | 2222-6737 2305-2147 |
| Popis: | This research examines the cointegration and causal relationship between economic growth, financial deepening, foreign direct investment and innovation in the context of China. The empirical results of the ARDL Bounds test to cointegration and VECM Granger causality validate the cointegration and causal association among variables. The study offers policy implication to bring more depth to the financial system to elevate potential innovative environment through FDI. Moreover, to boost real growth through the creation of spillover effects and to enrich the absorptive capacity, the policymakers need to pay attention to financial institutions access, depth and efficiency. |
| Databáze: | OpenAIRE |
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