The Direction of Causality Between Financial Development and Economic Growth

By C. Calderón, Lin Liu. 2003

1,261 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Information Systems

View Paper: https://www.semanticscholar.org/paper/a9af40550556a9c791d677cf535c3a8eb944f25a

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Citations in the corpus

Does Infrastructure Really Explain Economic Growth in Sub-Saharan Africa? (2016, methodology): “…(2016), http://dx.doi.org/10.1016/j.rdf.2016.12.001 Though a preponderance of studies about finance—growth exus finds a positive relationship (Calderón and Liu, 2003; assan et al., 2011; Ojah and Kodongo, 2015), on occasions 13 These are not presented in the paper but are available with the…”
The Impact of the Nigerian Capital Market on Economic Growth (1990-2010) (2012, background): “Thornton (1995), Rousseau and sylla (2001); Calderon and Liu (2002) supported that financial system development promotes economic growth.”
The Econometrics of Finance and Growth (2008, methodology): “Christopoulos and Tsionas (2004) find evidence for cointegration and long-run Granger causality from finance to GDP per capita for a sample of ten developing countries for the period 1970 to 2000, both for individual countries and for the panel.”
Financial development and economic growth: Evidence from China (2006, background): “…studies applying only bivariate causality tests between indicators of financial development and growth variables (e.g., Bell & Rousseau, 2001; Calderón & Liu, 2003; Demetriades & Hussein, 1996)2 also suffered from the omitted variables bias and could lead to erroneous causal inferences,…”
Financial Stability and Economic Performance (2015, background): “Calderon and Liu (2003) also find that financial development generally leads to economic growth, but they show that the causality from economic growth to financial development coexists.”
Institutional quality thresholds and the finance Growth nexus. (2013, background): “Hence, the Hansen (2000) and Caner and Hansen (2004) cross-section threshold approaches which can handle dynamic estimation are employed; (ii) institutions are deep factors and usually move slowly and thus their observed variation from year to year may be rather small (Chong and Calderon, 2000). In ”
On the nexus of financial development, economic growth, and energy consumption in China: New perspective from a GMM panel VAR approach (2018, background): “…known in the literature on the finance-growth nexus that there possibly exists a bidirectional relationship between financial development and economic growth (Abu-Bader and Abu-Qarn, 2008; Ang, 2008; Al-mulali and Lee, 2013; Al-Yousif, 2002; Calderón and Liu, 2003; Demetriades and Hussein, 1996).”
Finance-investment-growth nexus in South Africa: an ARDL-bounds testing procedure (2010, methodology): “ Calderon and Lin (2003) , while using the Geweke-decomposition test on the pooled data of 109 countries, also reported some evidence of bidirectional Granger causality.”
Financial Sector Development, Economic Growth, and Poverty Reduction: A Literature Review (2009, background): “, Calderon and Liu 2003,9 Jalilian and Kirkpatrick 2005, Kumbhakar and Mavrotas 2008, Mavrotas and Son 2006).10 For example, based on various instrument variable estimators using data for 65 countries over 1960 to 1999, Mavrotas and Son (2006) find that the magnitude of the positive impact of financ”
Financial development, real sector, and economic growth (2015, background): “Calderón & Liu (2003) suggest that financial deepening contributes more to growth in developing countries than in industrial countries.”