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J. Mon. Ec. 2013, 8(3): 151-166 Back to browse issues page
Financial Development and Economic Growth: Panel Data and Trilateral Analysis
Nasrin Omidi 1, Seyed Mohammad Fahimifard2
1- Ferdowsi University of Mashhad
2- Mashhad Chamber of Commerce, Industries, Mines and Agriculture
Abstract:   (3664 Views)

A large body of literatures links financial development to economic growth, yet the channels through which inflation and economic development affect this relationship have been less thoroughly explored. This research takes econometric and trilateral graphic approaches to examine these channels using 99 developing and developed countries during the years 1960-2009. Findings prove that respectively there is a positive, negative and neutral relationship between financial development and economic growth in low, high and very high level of inflation. The effect of countries development situation on finance-growth nexus shows that among the financial development indexes only the effect of M3 is different through developed and developing countries.
JEL Classification: C12, C23

Received: 5/26/2014                     Approved: 12/14/2014

Keywords: Financial development, Economic growth, Inflation, Economic development, Trilateral analysis.
Full-Text [PDF 387 kb]   (1678 Downloads)    
Type of Study: Research | Subject: Economics
Received: 2015/02/15 | Accepted: 2015/02/15 | Published: 2015/02/15
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Omidi N, Fahimifard S M. Financial Development and Economic Growth: Panel Data and Trilateral Analysis. J. Mon. Ec.. 2013; 8 (3) :151-166
URL: http://jme.mbri.ac.ir/article-1-118-en.html

Volume 8, Issue 3 (summer 2013) Back to browse issues page
Journal of Money and Economy Journal of Money And Economy
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