An exogeneity analysis of financial deepening and economic growth: evidence from Hong Kong, South Korea and Taiwan

Andy Kwan, Yangru Wu () and Junxi Zhang

The Journal of International Trade & Economic Development, 1998, vol. 7, issue 3, 339-354

Abstract: This paper presents exogeneity tests for the existence (or absence) of a behavioural relationship between financial deepening and economic growth for three high performing economies: Hong Kong, South Korea and Taiwan. The findings suggest that weak, strong and super exogeneity assumptions are valid, and the variable of financial deepening has a positive influence on output growth. Since the successful stories of these high performing economies have been examples for other developing countries, we argue that a sound financial system is essential in the course of economic development.

Keywords: Exogeneity; financial deepening; economic growth (search for similar items in EconPapers)
Date: 1998
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/09638199800000018 (text/html)
Access to full text is restricted to subscribers.

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:taf:jitecd:v:7:y:1998:i:3:p:339-354

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/RJTE20

DOI: 10.1080/09638199800000018

Access Statistics for this article

The Journal of International Trade & Economic Development is currently edited by Pasquale Sgro, David E.A. Giles and Charles van Marrewijk

More articles in The Journal of International Trade & Economic Development from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().