An empirical analysis on the impact of the development of the financial system upon the economic growth. The case of Romania and of the other states members of the European Union

Carmen Corduneanu and Laura Raisa Milos

MPRA Paper from University Library of Munich, Germany

Abstract: This paper outlines the existing connection between the development of the financial system and the economic growth of an economy. Along the time, many authors have tried to bring empirical prove that this connection exists on the long term, and it is very strong especially for the developing countries being explained through the channel of investment and productivity. Beside giving the theoretical arguments for this connection, the authors make an empirical analysis using pool data regressions, taking into consideration the old member states and the new member states of the European Union, with a special focus on the Romanian case.

Keywords: G10; G20 (search for similar items in EconPapers)
JEL-codes: G10 G20 (search for similar items in EconPapers)
Date: 2009-05
New Economics Papers: this item is included in nep-cfn and nep-tra
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:19877

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