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Analyzing the importance of forward orientation in financial development-growth nexus: Evidence from big data

Taniya Ghosh (), Prashant Mehul Parab () and Sohini Sahu ()
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Prashant Mehul Parab: Indira Gandhi Institute of Development Research
Sohini Sahu: Indian Institute of Technology Kanpur

Indira Gandhi Institute of Development Research, Mumbai Working Papers from Indira Gandhi Institute of Development Research, Mumbai, India

Abstract: The paper analyzes how the citizens' attitude towards future, obtained using big data, affects the relationship between the nation's financial development and economic growth. All financial development indicators, except for one, show significant negative growth effects. We find that individual's attitude towards future as captured by future orientation index (FOI) plays a significant role in affecting this relation. In particular, FOI interacts with financial development, and weakens the negative effect of financial development on nation's economic growth.

Keywords: Developing countries; Developed countries; Economic growth; Financial development; Future Orientation Index (search for similar items in EconPapers)
JEL-codes: E71 G2 O16 O47 (search for similar items in EconPapers)
Pages: 11 pages
Date: 2019-11
New Economics Papers: this item is included in nep-big, nep-fdg and nep-gro
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Persistent link: https://EconPapers.repec.org/RePEc:ind:igiwpp:2019-031

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