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Financial development and growth in economies in transition

Lookup NU author(s): Dr Philip Dawson

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Abstract

The hypothesis that financial development promotes economic growth is largely supported by empirical studies. This hypothesis is tested for 13 Central and East European Countries (CEECs) during transition using panel data. Results show that financial development, as measured by liquid liabilities as a proportion of gross domestic product, has an insignificant effect on economic growth: economic growth in CEECs is not constrained by underdeveloped financial sectors.

Publication metadata

Author(s): Dawson PJ

Publication type: Article

Publication status: Published

Journal: Applied Economics Letters

Year: 2003

Volume: 10

Issue: 13

Pages: 833-836

ISSN (print): 1350-4851

ISSN (electronic): 1466-4291

Publisher: Routledge

URL: http://dx.doi.org/10.1080/1350485032000154243

DOI: 10.1080/1350485032000154243

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