The Long-and Short-Run Relationship between Financial Development and Inflation
| Autor: | I-Sheng Chiu, 邱奕盛 |
|---|---|
| Rok vydání: | 2008 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 96 This study examines the short-and long-run effects of inflation on financial development, with special emphasis on banking sector development. Applying the Pooled Mean Group (PMG) estimation to a panel data consisting of 80 countries over the period 1960~2004, some interesting results emerge. First, in general, inflation and financial development are cointegrated. And, inflation tends to have negative long-run effects but positive short-run effect on financial development. Second, when segregating the sample into the high-, middle- and low-income subsample, the positive long-run and negative short-run impacts of inflation are found to hold for the low-income countries. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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