Open Access Repository

Revisiting the effect of financial development on economic growth after the 2008 Global Financial Crisis

Downloads

Downloads per month over past year

Celik Girgin, S, Nguyen, H-O ORCID: 0000-0002-9167-0143 and Karlis, T 2017 , 'Revisiting the effect of financial development on economic growth after the 2008 Global Financial Crisis' , Advances in Economics and Business, vol. 5, no. 8 , pp. 456-465 , doi: 10.13189/aeb.2017.050804.

[img]
Preview
PDF
Original paper-...pdf | Download (412kB)

| Preview

Abstract

A growing body of theoretical and empirical literature analyses the relationship between finance and economic growth. The relationship has been strongly supported by many empirical analyses. However, the 2008 Global Financial Crisis (GFC) and the significantly improved econometric techniques made scholars to revisit this relationship. The main motivation of this paper is to empirically revisit the relationship between financial development and economic growth, especially one under the effect of the world’s greatest financial crisis since the Great Depression. In this study, both fixed effect and dynamic panel data analysis are conducted by using 147 countries over the period of 2000-2013. The analysis results prove the destructive effect of the GFC on the relationship between financial development and economic growth. Also, the finding showed that the effect of traditional financial development proxies has reduced after the crisis.

Item Type: Article
Authors/Creators:Celik Girgin, S and Nguyen, H-O and Karlis, T
Keywords: economic growth, financial development, Global Financial Crisis, panel data
Journal or Publication Title: Advances in Economics and Business
Publisher: Horizon Research Publishing
ISSN: 2331-5059
DOI / ID Number: 10.13189/aeb.2017.050804
Copyright Information:

Copyright 2017 The AuthorsLicensed under Creative Commons Attribution 4.0 International (CC BY 4.0)https://creativecommons.org/licenses/by/4.0/

Related URLs:
Item Statistics: View statistics for this item

Actions (login required)

Item Control Page Item Control Page
TOP