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Financial Development and Economic Growth: A Dynamic Panel Data Analysis

机译:金融发展与经济增长:动态面板数据分析

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This paper re-examines the empirical relationship between financial development and economic growth. The data cover the regressions according to the maximum of 110 countries and at least 10. It includes developing and developed countries. The study period extends from 1973 to 2012. Imports results obtained using the Generalized Method of Moments dynamic panel show that the variable that influence a significant and positive economic growth, whatever the sample is the variable that reflects the level of availability of the banking system. Contrary to that extent the credits granted by the financial system to the private sector, even if significant, has a negative influence on growth. Finally, the measure that reflects the financial deepening of the economy seems to depend positively on economic growth for developing countries and negatively for developed country.
机译:本文重新审视了金融发展与经济增长之间的经验关系。数据包括最多110个国家和至少10个国家的回归数据。其中包括发展中国家和发达国家。研究期从1973年到2012年。使用广义矩动态面板获得的进口结果表明,无论样本是反映银行系统可利用水平的变量,都影响着显着积极的经济增长的变量。在这种情况下,金融系统给予私营部门的信贷,即使数额巨大,也对增长产生负面影响。最后,反映经济金融深度的措施似乎对发展中国家的经济增长有正面影响,而对发达国家则有负面影响。

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