Credit Market Development and Economic Growth an Empirical Analysis for United Kingdom

Vazakidis, Athanasios; Adamopoulos, Antonios
July 2011
American Journal of Economics & Business Administration;2011, Vol. 3 Issue 3, p576
Academic Journal
The article presents an empirical analysis of the credit market development and economic growth for Great Britain. The study utilizes a Vector Error Correction Model (VECM) to examine the causal relationship between credit market development and economic growth. It also reveals how a short-run increase of economic growth per one induces an increase of bank lending 0.006 percent in the nation.


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