Financial development and economic growth in emerging market: bootstrap panel causality analysis

Yusuf Ekrem Akbas
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Yusuf Ekrem Akbas: Adiyaman University, Turkey

Theoretical and Applied Economics, 2015, vol. XXII, issue 3(604), Autumn, 171-186

Abstract: In this study, it was investigated whether there is a causality relationship between financial development and economic growth in emerging market countries. Data from the period between 1988 and 2013 was analyzed using the bootstrap panel causality test, which takes cross-section dependence and heterogeneity into account. The results of the test showed that there is a weak causal relationship between economic growth and financial development support the neutrality hypothesis in emerging countries, except for Turkey.

Keywords: Financial Development; Economic Growth; Emerging Market; Panel Bootstrap Causality. (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:agr:journl:v:xxii:y:2015:i:3(604):p:171-186

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