Financial Institutions and Economic Growth: An Empirical Analysis of Indian Economy in the Post Liberalized Era

Shrutikeerti Kaushal and Amlan Ghosh
Additional contact information
Shrutikeerti Kaushal: Department of Management Studies, National Institute of Technology, Durgapur, West Bengal, India,
Amlan Ghosh: Department of Management Studies, National Institute of Technology, Durgapur, West Bengal, India.

International Journal of Economics and Financial Issues, 2016, vol. 6, issue 3, 1003-1013

Abstract: Development of insurance and banking institutions is one of the fundamental constituents that plays an important role in stimulating financial development and thereby the growth of the economy in any country. However the causal effect of these financial institutions can't be generalized as the development of financial institution is quite different in nature and scale in different countries. This paper attempts to examine the relationship between financial institutions and economic growth in the Indian economy. We find that there exists a long run relationship and insurance institutions do promote the economic growth and vice-versa. It is also found that it is growth in the economy that causes development of banking institutions.

Keywords: Economic Growth; Financial Institutions; Banks; Insurance; Time Series; India (search for similar items in EconPapers)
JEL-codes: C22 E44 G20 G21 G22 O16 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
http://www.econjournals.com/index.php/ijefi/article/download/2152/pdf (application/pdf)
http://www.econjournals.com/index.php/ijefi/article/view/2152/pdf (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eco:journ1:2016-03-24

Access Statistics for this article

International Journal of Economics and Financial Issues is currently edited by Ilhan Ozturk

More articles in International Journal of Economics and Financial Issues from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().