Financial development and economic growth : a study for OECD countries in the context of crisis
Autor(a) principal: | |
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Data de Publicação: | 2018 |
Outros Autores: | |
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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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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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 |
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1799131104071909376 |