Financial development and economic growth : a study for OECD countries in the context of crisis

Detalhes bibliográficos
Autor(a) principal: Afonso, António
Data de Publicação: 2018
Outros Autores: Blanco-Arana, M. Carmen
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/16027
Resumo: We revisit the relationship between economic growth and financial development in OECD countries during the period 1990-2016, paying special attention to the recent economic crisis. Using a random effects model, we find that an increase in domestic credit provided by the financial-sector, in market capitalization and in the turnover ratio of domestic shares entails a significant positive effect on per capita GDP. We also find different effects during the period of the crisis on domestic credit provided by the financial-sector and on market capitalization. Among other socioeconomic determinants related to economic growth, expenditure in education, inflation and unemployment rates appear highly significant for economic growth of the analysed countries.
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spelling Financial development and economic growth : a study for OECD countries in the context of crisisFinancial developmentEconomic growthPanel dataRandom effects modelWe revisit the relationship between economic growth and financial development in OECD countries during the period 1990-2016, paying special attention to the recent economic crisis. Using a random effects model, we find that an increase in domestic credit provided by the financial-sector, in market capitalization and in the turnover ratio of domestic shares entails a significant positive effect on per capita GDP. We also find different effects during the period of the crisis on domestic credit provided by the financial-sector and on market capitalization. Among other socioeconomic determinants related to economic growth, expenditure in education, inflation and unemployment rates appear highly significant for economic growth of the analysed countries.ISEG - REM - Research in Economics and MathematicsRepositório da Universidade de LisboaAfonso, AntónioBlanco-Arana, M. Carmen2018-10-01T12:57:44Z2018-082018-08-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/16027engAfonso, António e M. Carmen Blanco-Arana (2018). "Financial development and economic growth : a study for OECD countries in the context of crisis". Instituto Superior de Economia e Gestão – REM Working paper nº 046 - 20182184-108Xinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:45:54Zoai:www.repository.utl.pt:10400.5/16027Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:01:32.125285Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Financial development and economic growth : a study for OECD countries in the context of crisis
title Financial development and economic growth : a study for OECD countries in the context of crisis
spellingShingle Financial development and economic growth : a study for OECD countries in the context of crisis
Afonso, António
Financial development
Economic growth
Panel data
Random effects model
title_short Financial development and economic growth : a study for OECD countries in the context of crisis
title_full Financial development and economic growth : a study for OECD countries in the context of crisis
title_fullStr Financial development and economic growth : a study for OECD countries in the context of crisis
title_full_unstemmed Financial development and economic growth : a study for OECD countries in the context of crisis
title_sort Financial development and economic growth : a study for OECD countries in the context of crisis
author Afonso, António
author_facet Afonso, António
Blanco-Arana, M. Carmen
author_role author
author2 Blanco-Arana, M. Carmen
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Afonso, António
Blanco-Arana, M. Carmen
dc.subject.por.fl_str_mv Financial development
Economic growth
Panel data
Random effects model
topic Financial development
Economic growth
Panel data
Random effects model
description We revisit the relationship between economic growth and financial development in OECD countries during the period 1990-2016, paying special attention to the recent economic crisis. Using a random effects model, we find that an increase in domestic credit provided by the financial-sector, in market capitalization and in the turnover ratio of domestic shares entails a significant positive effect on per capita GDP. We also find different effects during the period of the crisis on domestic credit provided by the financial-sector and on market capitalization. Among other socioeconomic determinants related to economic growth, expenditure in education, inflation and unemployment rates appear highly significant for economic growth of the analysed countries.
publishDate 2018
dc.date.none.fl_str_mv 2018-10-01T12:57:44Z
2018-08
2018-08-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv http://hdl.handle.net/10400.5/16027
url http://hdl.handle.net/10400.5/16027
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Afonso, António e M. Carmen Blanco-Arana (2018). "Financial development and economic growth : a study for OECD countries in the context of crisis". Instituto Superior de Economia e Gestão – REM Working paper nº 046 - 2018
2184-108X
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv ISEG - REM - Research in Economics and Mathematics
publisher.none.fl_str_mv ISEG - REM - Research in Economics and Mathematics
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron_str RCAAP
institution RCAAP
reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
repository.mail.fl_str_mv
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