Financial development and economic growth : evidence from panel unit root and cointegration tests

@inproceedings{Christopoulosa2004FinancialDA,
  title={Financial development and economic growth : evidence from panel unit root and cointegration tests},
  author={Dimitris K. Christopoulosa and Efthymios G. Tsionasb},
  year={2004}
}
  • Dimitris K. Christopoulosa, Efthymios G. Tsionasb
  • Published 2004
In this paper we investigate the long run relationship between financial depth and economic growth, trying to utilize the data in the most efficient manner via panel unit root tests and panel cointegration analysis. In addition, we use threshold cointegration tests, and dynamic panel data estimation for a panel-based vector error correction model. The long run relationship is estimated using fully modified OLS. For 10 developing countries, the empirical results provide clear support for the… CONTINUE READING
Highly Cited
This paper has 87 citations. REVIEW CITATIONS
63 Citations
41 References
Similar Papers

Citations

Publications citing this paper.
Showing 1-10 of 63 extracted citations

87 Citations

051015'06'09'12'15'18
Citations per Year
Semantic Scholar estimates that this publication has 87 citations based on the available data.

See our FAQ for additional information.

References

Publications referenced by this paper.
Showing 1-10 of 41 references

Are financial deepening and economic growth causally related? Another look at the evidence

  • A. 133–142. Darrat
  • International Economic Journal
  • 1999
Highly Influential
7 Excerpts

Financial development and economic growth: assessing the evidence

  • P. Arestis, P. Demetriades
  • 1997
Highly Influential
7 Excerpts

Transaction costs, technological choice and endogenous growth

  • V. 261–300. Bencivenga, B. Smith, R. Starr
  • Journal of Economic Theory
  • 1995
Highly Influential
9 Excerpts

Unit root tests in panel data: asymptotic and finite sample properties

  • A. Levin, C. F. Lin
  • 1993
Highly Influential
6 Excerpts

Stock markets, growth, and tax policy

  • R. Levine
  • Journal of Finance XLVI,
  • 1991
Highly Influential
10 Excerpts

Does financial development cause economic growth ? Time series evidence from 16 countries

  • P. O. Demetriades, A. K. Hussein
  • Journal of Development Economics
  • 1996
Highly Influential
4 Excerpts

Similar Papers

Loading similar papers…