Financial Development and Economic Growth — The Causal relationships in Japan, Korea and Taiwan.
| Autor: | Chung-Yu Tsai, 蔡忠佑 |
|---|---|
| Rok vydání: | 2003 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 91 Goldsmith had raised the issues about the relationship between financial development and economic growth since 1969. However, existing empirical literatures focus on cross-section approach. These researches ignore an important fact that each country has its’ own characteristics. This paper adopts the method of time series analysis to explore the relationship between financial development and economic growth across countries. This paper decomposes financial development into two channels-indirect finance and direct finance. The bank variables are used to be as proxy variables of indirect finance. While as the stock variables are used to be as proxy variables of direct finance. The Vector Error Correction (VEC) model is adopted to explore the causal relationships between financial development and economic growth. The results suggest that either the existence or the direction of the causal relationships is different across countries. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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