Concluding Remarks on Global Financial Centres, Economic Growth, Financial Efficiency, and (In)stability

2019 ◽  
pp. 107-113
Author(s):  
Fikret Čaušević
Keyword(s):  
Economic Growth ◽  
Financial Efficiency

Financial efficiency and economic growth: The case of Spain

1997 ◽  
Vol 3 (4) ◽  
pp. 333-351 ◽  
Author(s):  
Blanca Sanchez-Robles
Keyword(s):  
Economic Growth ◽  
Financial Efficiency

scholarly journals Mexico’s Finance-Growth Nexus with Trade Openness, FDI and Portfolio Investment: Evidence from VECM Cointegration Analysis

2020 ◽  
Vol 23 (49) ◽  
pp. 29-44
Author(s):  
Takashi Fukuda
Keyword(s):  
Economic Growth ◽  
Structural Break ◽  
Trade Openness ◽  
Cointegration Analysis ◽  
Portfolio Investment ◽  
Financial Efficiency ◽  
Vector Error Correction ◽  
Vector Error ◽  
Causality Tests ◽  
Finance Growth Nexus

This study investigates Mexico’s finance-growth nexus by controlling the “globalization” variables of trade openness, foreign direct investment (FDI) and portfolio investment together with the structural break dummy. Financial development is proxied by two indicators of size and efficiency. Implementing the cointegration and Granger causality tests in the framework of the vector error correction model (VECM), we found that: financial size is negative for economic growth with no feedback; financial efficiency and economic growth are in a negative bilateral relationship; trade openness and portfolio investment are positive for economic growth; and FDI is negative for economic growth and financial efficiency.

scholarly journals Finance and economic growth nexus: evidence from Gansu province in China

2021 ◽  
Vol 275 ◽  
pp. 01007
Author(s):  
Changchuan Zhang
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Time Series Data ◽  
Unit Root Test ◽  
Output Growth ◽  
Gansu Province ◽  
Series Data ◽  
Financial Efficiency ◽  
Causality Test ◽  
Integration Test

This study investigates the association between financial development and economic growth in the long run using the time series data from 1985 to 2018 in financially undeveloped Gansu province in China. Regarding methodology, this paper employs ADF unit root test, Johansen co-integration test, VECM and Granger causality test to analyze the long-term relationship. The outcomes signal that the variables of financial depth, financial efficiency and economic growth are co-integrated, and the level of total financial development is negatively correlated with economic growth while financial efficiency is positively associated with output growth. In addition, there is a two-way causation between each pair of variables.

scholarly journals Migrant Remittances and Economic Growth: The Role of Financial Efficiency

2020 ◽  
pp. 48-59
Author(s):  
Ningaye Paul ◽  
Abba Yadou Barnabé ◽  
Balla Mekongo Célestin Ghislain
Keyword(s):  
Economic Growth ◽  
Negative Impact ◽  
Positive Impact ◽  
African Countries ◽  
Financial Efficiency ◽  
Middle Income ◽  
Middle Income Countries ◽  
Migrant Remittances ◽  
Long Term Impact

The objective of this paper is to examine the relationship between migrant remittances and economic growth by considering the role of financial efficiency in 34 African countries from 1995 to 2016. The methodology is based on a GMM system model and a Pooled Mean Group (PMG) on a sample of 34 African countries. The empirical results show us the following conclusions: (i) Migrant remittances and financial efficiency have a positive impact on economic growth. (ii) The interaction between remittances and financial efficiency has a negative impact on economic growth. (iii) Migrant remittances have a long-term impact on economic growth. (iv) The combined effect of migrant remittances and financial efficiency has a negative impact on economic growth. Moreover, this impact is more pronounced in low-and middle-income countries. To better benefit from migrant remittances, recipient countries need to focus on financial development.

Empirical Analysis about the Relationship between Economic Growth and Financial Development: Evidence from China

2012 ◽  
Vol 468-471 ◽  
pp. 1578-1584
Author(s):  
Yun Dong Wen
Keyword(s):  
Economic Growth ◽  
Empirical Analysis ◽  
Financial Development ◽  
Significant Influence ◽  
Financial Structure ◽  
Financial Efficiency ◽  
Empirical Results ◽  
The Relationship

This paper aims to use China as the research sample to investigate the relationship among economic growth and financial development. Degrees of financial development, financial efficiency, financial structure and financial freedom will be used to reflect China’s financial development. The empirical results show the financial development has no significant influence on China’s economic growth.

scholarly journals FINANCE AND BALANCED GROWTH

2013 ◽  
Vol 18 (4) ◽  
pp. 883-898 ◽  
Author(s):  
Alex Trew
Keyword(s):  
Economic Growth ◽  
Endogenous Growth ◽  
Financial Development ◽  
Financial Services ◽  
Value Added ◽  
Financial Efficiency ◽  
Balanced Growth ◽  
Empirical Results ◽  
Cross Country ◽  
The Relationship

We study the relationships between various concepts of financial development and balanced economic growth. A model of endogenous growth that incorporates roles for both financial efficiency and access to financial services permits a better understanding of the relationship between the size of the financial sector (value added) and growth. Higher financial value added results from some, but not all, kinds of finance-driven growth. If greater access rather than greater efficiency generates higher growth, then value added and growth can be positively correlated. We present some preliminary empirical results that support the importance of access alongside efficiency in explaining cross-country variations in growth.

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