Revisiting the nexus of the financial development and economic development: new international evidence using a wavelet approach

被引：4

作者：

Karlsson, Hyunjoo Kim ^{[1
]}

Mansson, Kristofer ^{[2
]}

Hacker, Scott ^{[2
]}

机构：

[1] Linnaeus Univ, Dept Econ & Stat, Vaxjo, Sweden

[2] Jonkoping Int Business Sch, JIBS, Jonkoping, Sweden

来源：

EMPIRICAL ECONOMICS | 2021年 / 60卷 / 05期

关键词：

Financial development; Economic development; Economic growth; Causality; Timescales; Wavelet decomposition; UNIT-ROOT TESTS; IMPULSE-RESPONSE ANALYSIS; PANEL-DATA; GROWTH; COINTEGRATION; CAUSALITY; BANKING; CRISES;

D O I：

10.1007/s00181-020-01885-5

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This study investigates Granger causality and instantaneous causality between financial development and economic development for 76 economies of four different income levels. The main novelty of the study is that it fills a gap in existing studies on the relationship between financial development and economic development by employing wavelet analysis, which enables us to study the varying timescale relationships of the variables. Among the findings is that at the scale of 4-8 years, it is more common for financial development and economic development to support each other once a country achieves at least lower-middle-income status.

引用

页码：2323 / 2350

页数：28

共 56 条

[11] Does financial development cause economic growth? Time-series evidence from 16 countries [J].