FINANCIAL DEVELOPMENT, TRADE OPENNESS AND ECONOMIC GROWTH IN DEVELOPING COUNTRIES Recent Evidence from Panel Data

Nabila Asghar · Zakir Hussain

59 citations0/0 files stored

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Monetary Policy and Economic Impact Global Financial Crisis and Policies Economic Growth and Development

Abstract

The study investigates the causal relationship between financial development and economic growth in developing countries over the period of 1978-2012. The study empirically explores the channels through which financial development may influence economic growth more specifically in the context of Foreign Direct Investment (FDI) and trade openness. The financial development index is constructed and panel co- integration tests are applied to check the existence of long-run relationship between the variables of interest. The findings of the study show that there are strong evidences of the long-run relationship between financial development and economic growth in developing countries. There exists bi-directional causation between financial development and FDI. Furthermore, trade openness has impact on financial development in all the countries, which calls for the introduction of effective policy measures to promote trade between countries.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 59 citations exist upstream.

References

2003The Theory of Economic Development 2003Testing for unit roots in heterogeneous panels 1993Finance and Growth: Schumpeter Might Be Right 1989Economic Growth in a Cross Section of Countries 1999A Comparative Study of Unit Root Tests with Panel Data and a New Simple Test 2000Financial intermediation and growth: Causality and causes 2012A new data set of educational attainment in the world, 1950–2010 1996Stock Markets, Banks, and Economic Growth

Cited by

2017Dynamic relationship between financial development, energy consumption, trade and greenhouse gas: Comparison of upper middle income countries from Asia, Europe, Africa and America 2018Dynamics between financial development, tourism, sanitation, renewable energy, trade and total reserves in 19 Asia cooperation dialogue members 2016Trade openness, foreign direct investment, and finance-growth nexus in the Eurozone countries 2017Venture capital investment, financial development, and economic growth: the case of European single market countries 2020The Relationship between Trade Openness, Foreign Direct Investment and Economic Growth in West Africa: Static Panel Data Model

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.