English, Article edition: Financial development and economic growth: evidence from transition economies Alexandr Akimov; Albert Wijeweera; Brian Dollery

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Bookmark: http://trove.nla.gov.au/version/50229
Physical Description
  • article
Language
  • English

Edition details

Title
  • Financial development and economic growth: evidence from transition economies
Author
  • Alexandr Akimov
  • Albert Wijeweera
  • Brian Dollery
Physical Description
  • article
Notes
  • The hypothesis that financial development promotes economic growth enjoys significant support from empirical evidence drawn from both developed and developing countries alike. However, analogous empirical evidence is still lacking for economies in transition. This article analyses the effects of financial intermediation on the growth of real GDP by employing data for 27 countries over the period of 1989 to 2004. Using an endogenous growth model and panel data analysis techniques, we estimate regressions with various proxies for financial sector development. We find that in contrast to some recent empirical work, there is a robust positive link between financial development and economic growth in transition economies.
  • RePEc:taf:apfiec:v:19:y:2009:i:12:p:999-1008
Language
  • English
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