Does the financial system support economic growth in times of financialisation? Evidence for Portugal

Detalhes bibliográficos
Autor(a) principal: Barradas, Ricardo
Data de Publicação: 2020
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.21/11940
Resumo: Artigo em revista científica internacional
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spelling Does the financial system support economic growth in times of financialisation? Evidence for PortugalFinancial SystemEconomic growthPortugalTime seriesAutoregressive distributed lag estimatorArtigo em revista científica internacionalThis paper conducts a time series econometric analysis in order to examine empirically the relationship between the financial system and economic growth in Portugal from 1977 to 2016. The Portuguese financial system has experienced a strong wave of privatisations, liberalisations and deregulations since the adhesion of Portugal to the European Economic Community in 1986, which has not favoured a sustained path of strong economic growth since then. The paper estimates a linear growth model and a non-linear growth model, which includes four proxies for the financial system (money supply, credit, financial value added and stock market capitalisation) and four further control variables (inflation, government consumption, trade openness and education). The paper finds a negative linear relationship between the banking system and Portuguese economic growth, a positive linear relationship between the stock markets and Portuguese economic growth, a concave quadratic relationship between the banking system and Portuguese economic growth, and a convex quadratic relationship between the stock markets and Portuguese economic growth. This suggests that Portuguese policy makers should canalise efforts to decrease the importance of banking system and to increase the importance of stock markets in order to support more robust economic growth in the coming years.Taylor & Francis GroupRCIPLBarradas, Ricardo2020-06-23T14:19:56Z2020-06-222020-06-22T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.21/11940eng10.1080/02692171.2020.1782854metadata only accessinfo: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:RCAAP2023-08-03T10:03:54Zoai:repositorio.ipl.pt:10400.21/11940Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T20:20:07.528448Repositório 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 Does the financial system support economic growth in times of financialisation? Evidence for Portugal
title Does the financial system support economic growth in times of financialisation? Evidence for Portugal
spellingShingle Does the financial system support economic growth in times of financialisation? Evidence for Portugal
Barradas, Ricardo
Financial System
Economic growth
Portugal
Time series
Autoregressive distributed lag estimator
title_short Does the financial system support economic growth in times of financialisation? Evidence for Portugal
title_full Does the financial system support economic growth in times of financialisation? Evidence for Portugal
title_fullStr Does the financial system support economic growth in times of financialisation? Evidence for Portugal
title_full_unstemmed Does the financial system support economic growth in times of financialisation? Evidence for Portugal
title_sort Does the financial system support economic growth in times of financialisation? Evidence for Portugal
author Barradas, Ricardo
author_facet Barradas, Ricardo
author_role author
dc.contributor.none.fl_str_mv RCIPL
dc.contributor.author.fl_str_mv Barradas, Ricardo
dc.subject.por.fl_str_mv Financial System
Economic growth
Portugal
Time series
Autoregressive distributed lag estimator
topic Financial System
Economic growth
Portugal
Time series
Autoregressive distributed lag estimator
description Artigo em revista científica internacional
publishDate 2020
dc.date.none.fl_str_mv 2020-06-23T14:19:56Z
2020-06-22
2020-06-22T00:00:00Z
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/10400.21/11940
url http://hdl.handle.net/10400.21/11940
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 10.1080/02692171.2020.1782854
dc.rights.driver.fl_str_mv metadata only access
info:eu-repo/semantics/openAccess
rights_invalid_str_mv metadata only access
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Taylor & Francis Group
publisher.none.fl_str_mv Taylor & Francis Group
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
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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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