scholarly journals Direction of Causality between Financial Development and Economic Growth in Turkey

2021 ◽  
pp. 22-37
Author(s):  
Cengiz Yılmaz ◽  
Banu Demirhan
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Gross Domestic Product ◽  
Financial Development ◽  
The Other ◽  
Development Indicators ◽  
Short Run ◽  
Causality Relationship ◽  
Using Data

This paper has investigated the causality relationship between financial development and economic growth in Turkey, using data from 2005:04 to 2020:03. We construct a time-series model to explore causality relationships between the variables. In the study, two indicators were used as financial development indicators: banking loans to the private sector and money supply to GDP (Gross Domestic Product). The empirical results have represented a bi-directional relationship between financial development and economic growth in the short run. On the other hand, we have not found a causality relationship in the long term.

scholarly journals Financial Development and Stock Traded Contributions towards Economic Growth

2015 ◽  
Vol 2 (1) ◽  
pp. 5-8
Author(s):  
Shehper Maryam Zafar ◽  
Nadia Bukhari
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Financial Development ◽  
Positive Relationship ◽  
Time Series Data ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
Long Term Impact

This purpose of this research is check the long run as well as short run impact of Financial Development and Stock traded on the economic growth in the scenario of Pakistan. The time series data has taken for the year 1988-2013. This paper utilized ARDL methodology to determine long-term impact of Financial Development and Stock Traded on Economic growth. Further Granger Causality Check has used to check a uni-directional relationship. The results of this test support that FD and stock traded has a uni-directional impact over economic growth. Further, it has depicted from ARDL that there is a positive relationship between FD and Economic Growth as well as Stock Traded and Economic Growth.

scholarly journals Analysis of FDI and Financial improvements for the Economic growth

2017 ◽  
Vol 4 (1) ◽  
pp. 29-32
Author(s):  
Nadia Bukhari ◽  
Atiq ul Rahman Malik
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Financial Development ◽  
Positive Relationship ◽  
Time Series Data ◽  
Series Data ◽  
Long Run ◽  
Short Run ◽  
Long Term Impact

This study is conducted in order to check the long run as well as short run impact of FDI and Financial Development on the economic growth. The study is conducted in the scenario of Pakistan and the time series data is taken for the year 1972-2013. ARDL methodology is used to determine whether FDI has long-term impact on Economic growth or not. Moreover, Granger Causality is used to check a uni-directional relationship and the results support that FDI has an impact over economic growth. Further, it is depicted from ARDL that there is a positive relationship between FDI and Economic Growth.

scholarly journals Financial Development, Economic Growth and Poverty Reduction in India: An Empirical Evidence

ETIKONOMI ◽  
2021 ◽  
Vol 20 (1) ◽  
pp. 13-22
Author(s):  
Md. Qaiser Alam ◽  
Md. Shabbir Alam
Keyword(s):  
Economic Growth ◽  
Empirical Evidence ◽  
Financial Development ◽  
Poverty Reduction ◽  
The Other ◽  
Development Economic ◽  
Impulse Response Functions ◽  
Response Functions ◽  
Long Run ◽  
Short Run

The paper examines the response of poverty reduction based on financial development and economic growth in India. The ARDL and ECM based model techniques analyze the long-run and short-run relationship among the variables in the model. The long-run estimates depict that financial development and economic growth have not significantly impacted poverty reduction and, on the other hand, resulted in injecting inequality and becoming attended to wealthier sections of the society. The short-run estimates show that financial development and economic growth have successfully tried to reduce poverty in India. The results flash a long-run nature of poverty in India and need to designs and formulations of policies that should be instrumental in reducing poverty. Impulse Response Functions' application indicates that poverty reduction will act as a catalyst for further poverty reduction in India.JEL Classification: I32, B26, O40, R15How to Cite:Alam, M. Q., & Alam, M. S. (2021). Financial Development, Economic Growth, and Poverty Reduction in India. Etikonomi: Jurnal Ekonomi, 20(1), 13 – 22. https://doi.org/10.15408/etk.v20i1.18417.

scholarly journals Is Tourism and Energy Consumption Linked? Evidence from Australia

2021 ◽  
Vol 13 (19) ◽  
pp. 10800
Author(s):  
Avishek Khanal ◽  
Mohammad Mafizur Rahman ◽  
Rasheda Khanam ◽  
Eswaran Velayutham
Keyword(s):  
Energy Consumption ◽  
Gross Domestic Product ◽  
Financial Development ◽  
Primary Energy ◽  
Domestic Product ◽  
Development Indicators ◽  
Distributed Lag ◽  
Long Run ◽  
Using Data ◽  
Australian Bureau Of Statistics

Tourism contributes to the growth of an economy via earning foreign currencies and employment opportunities. However, tourism also contributes to greater energy consumption because of various tourist activities such as hotel accommodations and transportation. This study investigates the long-term cointegrating relationship between international tourist arrivals and primary energy consumption in Australia. In addition, the roles of gross domestic product, gross fixed capital formation, financial development, and total population on energy consumption are also examined. The study covered the last four decades (1976–2018) using data from the Australian Bureau of Statistics, BP Statistical Review, and the World Development Indicators. Augmented Dickey-Fuller, Phillips-Perron, Autoregressive distributed lag (ARDL) bound tests, Johansen and Juselius, Bayer-Hanck cointegration test, and several key diagnostic tests have been conducted to assess the relationship. The estimated results indicate that tourist arrivals, gross domestic product, and financial development have a significant long-run cointegrating relationship with energy consumption. Policy measures are suggested based on the findings of this study.

scholarly journals The Effects of Green Financial Development on Economic Growth in Pakistan

2021 ◽  
Vol 3 (3) ◽  
Author(s):  
Muhammad Atif Nawaz ◽  
Muhammad Sajjad Hussain ◽  
Altaf Hussain
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Foreign Direct Investment ◽  
Financial Development ◽  
Direct Investment ◽  
Positive Impact ◽  
Development Indicators ◽  
Green Finance ◽  
Green Investment ◽  
World Development

Sustainable development is now a mantra for which every country is striving for it and green finance, and green financial development which is advancement in financial activities harmonized with environmental protection and ecological balance, is considered as the foremost solution for it. Keeping in view the importance of green financial development for the economic growth, this study aims to examine the effects of green financial development such as green credit, green securities, green insurance, green investment, and foreign direct investment on the economic growth of Pakistan. The time series has extracted from World Development Indicators (WDI) and State Bank of Pakistan (SBP) for the period 1981 to 2019. For the analysis purpose, Autoregressive distributive lag (ARDL) and Granger casualty have been executed. The findings established empirically that green financial development such as green credit, green securities, green insurance, green investment, and foreign direct investment have a positive impact on the economic growth of Pakistan. These findings provide the insight to the regulators that they should enhance their focus towards green financial development that is imperative for the economic growth of the country.

scholarly journals Exploring the Linkage Between Financial Development and Economic Growth: the ARDL Bounds Testing approach

2021 ◽  
Author(s):  
Mohammad Abul Kashem ◽  
Mohammad Mafizur Rahman
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Negative Impact ◽  
Positive Impact ◽  
Bounds Testing ◽  
Development Indicators ◽  
Long Run ◽  
Short Run ◽  
Bounds Testing Approach ◽  
Ardl Bounds Testing Approach

Abstract This study investigates the cointegration, short and long run dynamics and causal links between financial development and economic growth in Bangladesh for the period 1973 to 2015. We applied the Autoregressive Distributed Lag (ARDL) Bounds Testing approach and the Granger causality test. The ARDL bounds tests and other cross-checking test confirmed the long run cointegration between economic growth and financial development indicators in Bangladesh. The two financial development indicators, growth in broad money to gross domestic product (GDP) ratio and growth in total deposit liabilities to GDP ratio appeared to have time variant impact on economic growth: the former having significant positive impact in the short- run but negative impact in the long- run, while the latter has significant negative impact in the short- run but positive impact in the long- run. The Granger causality analysis indicated a bidirectional, co-evolutionary process between financial development and economic growth.

scholarly journals Cointegration and Causality Study Among Inward FDI, Economic Growth and Exports

2020 ◽  
Vol 11 (1) ◽  
pp. 63-77
Author(s):  
Jekka Chandrasekaran Sharmiladevi
Keyword(s):  
Economic Growth ◽  
Empirical Relationship ◽  
Wald Test ◽  
International Markets ◽  
Significant Feature ◽  
Correction Coefficient ◽  
Time Period ◽  
Short Run ◽  
Causality Relationship

One significant feature of liberalisation for India has been a greater openness to foreign direct investment (FDI) as a means of acquiring technologies, skills and access to international markets, and of entering dynamic trade and production. The study analyses the empirical relationship between inward FDI, economic growth and exports of India from 1970-71 to 2013-2014. The objective of this article is to investigate the relationship between FDI, economic growth and exports empirically. The error correction coefficient value indicates a 15.02% movement back towards equilibrium following a shock to the model, one time period later. OLS indicate significant long-term causality relationship among the variables with high R2 value to the tune of 0.758660. The Wald Test establishes short-run causality from economic growth to inward FDI, and from exports to inward FDI. A one-way causality relationship is running from exports to inward FDI. Economic growth causes inward FDI, but, inward FDI is not causing economic growth. Exports cause inward FDI, and inward FDI does not cause exports.

scholarly journals Nexus between Economic Growth, Tourism Revenue and Financial Development in Bangladesh: A Time Series Analysis

2019 ◽  
Vol 9 (3) ◽  
pp. 134
Author(s):  
Syeda Sumaiya Habib ◽  
Md. Shahanawaz Sharif ◽  
Mohammad Amzad Hossain
Keyword(s):  
Economic Growth ◽  
Time Series ◽  
Time Series Analysis ◽  
Financial Development ◽  
Positive Impact ◽  
Series Data ◽  
Series Analysis ◽  
Long Run ◽  
Short Run ◽  
Tourism Revenue

The main objective of this study is to analyze the nexus between economic growth, tourism revenue, and financial development in Bangladesh. This paper uses time series data from 1995 to 2016. Advance technique of time series analysis: Johansen Cointegration Approach is used to test the Cointegration among variables. Moreover, the Vector Error Correction (VECM) has been applied to study the long run and short run association among variables. The outcome of this study reveals that the tourism revenue and financial development has positive impact on economic growth in the long run. Variance decomposition and impulse response function also supports the positive association. According to the estimation of Granger Causality also reveals the unilateral direction in short run economic growth to tourism revenue. Providing more credit by financial sector to invest more on infrastructure and promoting Bangladesh as well as insuring proper security for foreign visitors would increase the revenue of this sector, which in turn stimulates economic growth of the country.

A subtle kind of certainty

2017 ◽  
Vol 8 (1) ◽  
pp. 85-106
Author(s):  
Patrick F. Parnaby
Keyword(s):  
Economic Growth ◽  
The Other ◽  
Symbiotic Relationship ◽  
Economic Uncertainty ◽  
Structured Interviews ◽  
Short Term ◽  
Social Phenomena ◽  
Financial Planners ◽  
Using Data

Abstract Using data collected from 42 semi-structured interviews with professional financial planners and eight recorded meetings between planners and clients, this paper examines two interrelated social phenomena from a Bourdieusian (1977, 1991) perspective. First, it examines how professional financial planners legitimize their expertise by constructing and maintaining a distinction between short-term economic uncertainty on one hand, and the inevitability of long-term economic growth on the other. Second, it conceptualizes those legitimation practices in terms of their symbiotic relationship to broader structural conditions. The analysis concludes by reflecting on the significance of misrecognition as it relates to industry claims about the future.

Tribalism and Finance

2021 ◽  
pp. 026010792110334
Author(s):  
Oasis Kodila-Tedika ◽  
Simplice A. Asongu
Keyword(s):  
Stock Market ◽  
Financial Development ◽  
Middle Eastern ◽  
Financial Intermediary ◽  
Stock Market Development ◽  
Domestic Credit ◽  
Short Run ◽  
Using Data ◽  
Market Capitalisation

We assess the correlations between tribalism and financial development in 60 countries using data averages from 2000 to 2010. The tribalism index is used to measure tribalism whereas financial development is measured from perspectives of financial intermediary and stock market developments. The long-term finance variable is stock market capitalisation while short-run variable is private and domestic credit. We find that tribalism is negatively correlated with financial development and the magnitude of negativity is higher for financial intermediary development relative to stock market development. The findings are particularly relevant to African and Middle Eastern countries where the scourge of tribalism is most pronounced. JEL: E62, H11, H20, G20, O43

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