Financial Development and Economic Growth: An Empirical Analysis for the UK

Athanasios Vazakidis and Antonios Adamopoulos

European Research Studies Journal, 2011, vol. XIV, issue 2, 135-148

Abstract: This paper investigates the relationship between financial development and economic growth for UK for the period 1965-2007 using a vector error correction model (VECM). The purpose of this paper is to examine the long-run relationship between these variables applying the Johansen cointegration analysis. Granger causality tests indicated that there is a causal relationship between financial development and economic growth for UK.

Keywords: Financial Development; Economic Growth; Granger Causality (search for similar items in EconPapers)
JEL-codes: C22 O11 (search for similar items in EconPapers)
Date: 2011
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xiv:y:2011:i:2:p:135-148

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