A Survey Of Recent Developments In The Literature Of Finance And Growth

By James B. Ang. 2008

535 citations recorded by the source corpus.

This paper provides a survey of the recent progress in the literature of financial development and economic growth. The survey highlights that most empirical studies focus on either testing the role of financial development in stimulating economic growth or examining the direction of causality between these two variables. Although the positive role of finance on growth has become a stylized fact, there are some methodological reservations about the results from these empirical studies. Several key issues unresolved in the literature are highlighted. The paper also points to several directions for future research.

Subfields: Economics and Econometrics, Information Systems

View Paper: https://www.semanticscholar.org/paper/84d0ed9ee52bb357fcfda470ef69dda6b159b3ae

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

In Information Systems

Citations in the corpus

Is There Really Granger Causality between Energy Use and Output? (2014, methodology): “…techniques have been widely applied in many areas of economics including monetary policy (Lee and Yang, 2012), ﬁnance and economic development (Ang, 2008a), and energy economics (Ozturk, 2010), as well as in other ﬁelds such as climate change (e.g. Kaufmann and Stern, 1997) and neuroscience…”
Financial development, trade openness and economic growth in African countries: New insights from a panel causality approach (2014, background): “The debate on the role of financial development in economic growth is still flourishing and is still attracting several theoretical and empirical studies that investigate the causal relationship between the two (Ang, 2008;Murinde, 2012).”
Finance and Growth: Time Series Evidence on Causality (2015, background): “Several studies, however, have suggested that these causality patterns, may reflect only one side of the causal link (see Demetriades and Hussein, 1996; Arestis, Demetriades and Luintel, 2001; Christopoulos and Tsionas, 2004; Ang, 2008; Luintel et al., 2008). They argue that by exploring the role of”
How do financial globalization, institutions and economic growth impact financial sector development in European countries? (2020, background): “Eventually, it is strongly suggested in the large body of empirical literature that financial development can explain differences or matter in economic growth across countries (Fase and Abma 2003, Levin 2003, Levine 2005, Ang 2008, Hsueh et al. 2013).”
The causal nexus between financial development and economic growth in Kenya (2013, methodology): “The ARDL bounds test approach is being referred to estimate equation (3), using the ordinary least squares (OLS) method.”
Moving to a New Global Competitiveness Index (2008, background): “43 Ang 2008; Aghion et al. 2007; Levine 2005a; King and Levine 1993; Rajan and Zingales 1998.”
Financial Development and Economic Growth: The Experience of 10 Sub-Saharan African Countries Revisited (2010, result): “1For a detail literature review on the relationship between financial development and economic growth, see Levine, 1997; Odhiambo, 2008; Ang, 2008; Demirguc-Kunt and Levine, 2008) among several others. c°2010 The Review of F inance and Banking 17 Odhiambo (2007) found conflicting results for three…”
Re-examining the financial development and economic growth nexus in Kenya (2009, background): “…important factor for fostering long-run economic growth as finance is able to facilitate growth by enabling efficient intertemporal allocation of resources, capital accumulation and technological innovation (see Ang, 2008; AbuBader and Abu-Qarn, 2008; Levine, 2005; Demirgüç-Kunt and Levine, 2008).”
Financial development, political rights, civil liberties and economic growth: evidence from South Asia (2012, background): “7 Other related studies include, Abu-Bader and Abu-Qaran (2008), Ang (2008b), Odhiambo (2008), Yang and Yi (2008), Wolde-Rufael (2009), Anwar and Sun (2011b), Cooray (2011) and Kar et al. (2011).”
Determinants of the link between financial and economic development: Evidence from a functional coefficient model (2014, methodology): “For example, Ang (2008a) argues that averaging may induce a new type of correlation between timeaveraged variables which could markedly differ from the correlation between non-averaged series.”
Financial Stability and Economic Performance (2015, unknown): “Different perspectives on the relationship between finance and economic performance have been emphasized, and theoretical and empirical controversies on this subject exist since the beginning of the XXth century (Ang, 2008).”