文章基本信息

标题：Revisiting the Effect of Financial Development on Economic Growth after the 2008 Global Financial Crisis
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作者：Sinem Celik Girgin ; Hong-Oanh Nguyen ; Thanasis Karlis 等
期刊名称：Advances in Economics and Business
印刷版ISSN：2331-5059
电子版ISSN：2331-5075
出版年度：2017
卷号：5
期号：8
页码：456-465
DOI：10.13189/aeb.2017.050804
语种：English
出版社：Horizon Research Publishing
摘要：A growing body of theoretical and empirical literature analyses the relationship between finance and economic growth. The relationship has been strongly supported by many empirical analyses. However, the 2008 Global Financial Crisis (GFC) and the significantly improved econometric techniques made scholars to revisit this relationship. The main motivation of this paper is to empirically revisit the relationship between financial development and economic growth, especially one under the effect of the world's greatest financial crisis since the Great Depression. In this study, both fixed effect and dynamic panel data analysis are conducted by using 147 countries over the period of 2000-2013. The analysis results prove the destructive effect of the GFC on the relationship between financial development and economic growth. Also, the finding showed that the effect of traditional financial development proxies has reduced after the crisis.
关键词：Economic Growth;Financial Development;Global Financial Crisis;Panel Data