RISS 학술연구정보서비스

검색
다국어 입력

http://chineseinput.net/에서 pinyin(병음)방식으로 중국어를 변환할 수 있습니다.

변환된 중국어를 복사하여 사용하시면 됩니다.

예시)
  • 中文 을 입력하시려면 zhongwen을 입력하시고 space를누르시면됩니다.
  • 北京 을 입력하시려면 beijing을 입력하시고 space를 누르시면 됩니다.
닫기
    인기검색어 순위 펼치기

    RISS 인기검색어

      • 무료
      • 기관 내 무료
      • 유료
      • KCI등재

        The Impact of Financial Development on Economic Growth: Empirical Evidence from Transitional Economies

        Phuc Tran NGUYEN,Trinh Tuyet Thi PHAM 한국유통과학회 2021 The Journal of Asian Finance, Economics and Busine Vol.8 No.11

        This article examines the role of financial development in economic growth in a number of transitional economies where the financial systems were newly established or reformed only in the early 1990s to facilitate their transition from centrally planned economies to marketbased ones. Based on a dataset collected from 29 transitional economies and 5 Asian developing economies covering the period 1990–2020, an empirical endogenous growth model is specified and estimated using the generalized method of moments (GMM). Three measures of financial development are used to investigate the relative role of the banking system and stock exchange market in the process of transition and growth. The results show that the three measures of financial development are crucial determinants of economic growth in transitional economies but the link seems to be in an inverted U-shape. This suggests the existence of thresholds for different channels of the financial sector to expand to positively influence growth. When becoming too large relative to the size of the economy, the financial system would have become a factor not conducive to growth. The growth convergence hypothesis is also confirmed and the impacts of other growth determinants are overall consistent with the extant literature.

      연관 검색어 추천

      이 검색어로 많이 본 자료

      활용도 높은 자료

      해외이동버튼