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Finance-Growth Nexus

Name: Finance-Growth Nexus
Brand: Grin Publishing
SKU: 9783640456949
Price: 14798 HUF
Availability: InStock

Evidence from Indian Economy using Causality Co-Integration Test based on Error Correction Model

Szerző: Manoj Dora

Nyelv:

Kötés: Puha kötésű

Kiadó: Grin Publishing

Elérhetőség: Beszállítói készleten

Küldés 5-8 napon belül

14 798 Ft

Master's Thesis from the year 2009 in the subject Business economics - General, grade: A, Vanderbilt...

Információk a könyvről

Szerző

Manoj Dora

Nyelv

Angol

Kötés

Könyv - Puha kötésű

Kiadva

2009

oldal

EAN

9783640456949

ISBN

3640456947

Enbook ID

05279480

Kiadó

Grin Publishing

Súly

104

Méretek

148 x 210 x 4

Teljes leírás

Master's Thesis from the year 2009 in the subject Business economics - General, grade: A, Vanderbilt University (Graduate Program in Economic Development), course: Masters in Economics, language: English, abstract: This study explores the relationship between financial growth and economic development in India using time series data over the period 1950-2007. The majority of the previous studies on this subject have used cross-sectional data, which may not address country specific issues. In addition, many studies used either OLS technique of estimation or bi-variate causality test and may, therefore suffer from the omission-of variable bias. This study attempts to examine the dynamic relationship between financial growth and economic development by including a range of financial variables like, quasi money for monetization, domestic credit for financial intermediation activities and bank asset for financial intermediary institutions. The casual relationship between economic development and financial growth indicators was examined with the help of Granger-Causality procedure based on Unrestricted Vector Auto Regression using the error correction term. The result from the cointegration tests indicates that financial development has a long-run equilibrium with economic growth. The financial sector and real sector move and evolve together in the same direction. The error correction model suggests that, in the short-run, the output variable is the only effective adjustment factor in the system that responds to the fluctuations of financial measures and domestic capital formation. On the other hand, the response of financial intensities and investments are sluggish adjustments that correct the deviation from equilibrium. In nutshell, this study shows that India s financial development and economic growth are positively correlated; the process of economic development is not sustainable without the contributions of the financial sector and vice versa.

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Finance-Growth Nexus

Evidence from Indian Economy using Causality Co-Integration Test based on Error Correction Model

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