TITLE

Financial Development and Economic Growth: A Panel Data Approach

AUTHOR(S)
Leitão, Nuno Carlos
PUB. DATE
October 2010
SOURCE
Theoretical & Applied Economics;Oct2010, Vol. 17 Issue 10, p15
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
The relationship between financial development and economic growth has been studied long time in economics (Adam Smith and Schumpeter). Structural reforms and the integration of financial markets have been attracting the interest of the academic community. This manuscript examines the link between financial development and economic growth. The European Union Countries (EU-27), and BRIC (Brazil, Russia, India and China) were examined, between 1980 and 2006. Using a static and dynamic panel data approach, the results demonstrate that the financial development contribute to economic growth. Our study also consider productivity and trade, these proxies confirm the positive effect on economic growth.
ACCESSION #
54995930

 

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