Arbeitspapier
Financial development and economic growth: evidence from ten new EU members
This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the stock and credit markets are still underdeveloped in these economies, and that their contribution to economic growth is limited owing to a lack of financial depth. By contrast, a more efficient banking sector is found to have accelerated growth. Furthermore, Granger causality test indicate that causality runs from financial development to economic growth, but not in the opposite direction.
- Sprache
-
Englisch
- Erschienen in
-
Series: DIW Discussion Papers ; No. 940
- Klassifikation
-
Wirtschaft
Financial Markets and the Macroeconomy
Central Banks and Their Policies
Financial Aspects of Economic Integration
Socialist Systems and Transitional Economies: Political Economy; Property Rights
- Thema
-
Financial development
economic growth
causality tests
transition economies
Finanzsektor
Entwicklung
Wirtschaftswachstum
Kausalanalyse
EU-Staaten (Osteuropa)
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Caporale, Guglielmo Maria
Rault, Christophe
Sova, Robert
Sova, Anamaria
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (wo)
-
Berlin
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:21 MESZ
Datenpartner
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Caporale, Guglielmo Maria
- Rault, Christophe
- Sova, Robert
- Sova, Anamaria
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2009
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