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Pregled bibliografske jedinice broj: 1026811

Financial and economic development link in transitional economies: a spectral Granger causality analysis 1991–2017


Škare, Marinko; Porada-Rochoń, Małgorzata
Financial and economic development link in transitional economies: a spectral Granger causality analysis 1991–2017 // Oeconomia Copernicana, 10 (2019), 1; 7-35 doi:10.24136/oc.2019.001 (međunarodna recenzija, članak, znanstveni)


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Naslov
Financial and economic development link in transitional economies: a spectral Granger causality analysis 1991–2017

Autori
Škare, Marinko ; Porada-Rochoń, Małgorzata

Izvornik
Oeconomia Copernicana (2083-1277) 10 (2019), 1; 7-35

Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni

Ključne riječi
financial development ; economic growth ; transition ; spectral Granger causality

Sažetak
Research background: The relationship between financial development and economic growth has been attracting attention in the field of economics since the times of the “great moderation”. Previous empirical studies still fail to put forward a general conclusion on whether and how financial development affects economic growth. This is particularly true due to the lack of empirical research on the matter in question for countries in transition. Purpose of the article: This study aims to contribute to bridging the gap in the financial development-growth nexus in transitional economies. Understanding the mechanism behind financial development and economic growth should assist policymakers in the design of efficient economic policies or avoiding/alleviating financial cycles. Methods: Using Granger causality test in frequency domain, which shows to have more power over standard time domain Granger causality test, as well as gross domestic product (GDP) and the monetary base (M2 — intermediate money), we investigated the finance-growth relationship in 19 Central, East, and Southeast European countries (CESEE) from 1991 to 2017. Findings & Value added: Study results show that financial development is important for growth in CESEE countries, thus supporting the “supply-leading” theories in general for countries in the sample. Our findings indicate that the relationship between financial development and economic growth exists in CESEE countries (with one exception — the Czech Republic) ranging from unidirectional (Albania, Bosnia and Hercegovina, Belarus, Estonia, Macedonia, Russia, Turkey), to bi-directional spectral Granger causality (Bulgaria, Croatia, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Romania, Slovenia, Slovakia, Ukraine).

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija



POVEZANOST RADA


Ustanove:
Sveučilište Jurja Dobrile u Puli

Profili:

Avatar Url Marinko Škare (autor)

Poveznice na cjeloviti tekst rada:

Pristup cjelovitom tekstu rada doi economic-research.pl

Citiraj ovu publikaciju:

Škare, Marinko; Porada-Rochoń, Małgorzata
Financial and economic development link in transitional economies: a spectral Granger causality analysis 1991–2017 // Oeconomia Copernicana, 10 (2019), 1; 7-35 doi:10.24136/oc.2019.001 (međunarodna recenzija, članak, znanstveni)
Škare, M. & Porada-Rochoń, M. (2019) Financial and economic development link in transitional economies: a spectral Granger causality analysis 1991–2017. Oeconomia Copernicana, 10 (1), 7-35 doi:10.24136/oc.2019.001.
@article{article, author = {\v{S}kare, Marinko and Porada-Rocho\'{n}, Ma\lgorzata}, year = {2019}, pages = {7-35}, DOI = {10.24136/oc.2019.001}, keywords = {financial development, economic growth, transition, spectral Granger causality}, journal = {Oeconomia Copernicana}, doi = {10.24136/oc.2019.001}, volume = {10}, number = {1}, issn = {2083-1277}, title = {Financial and economic development link in transitional economies: a spectral Granger causality analysis 1991–2017}, keyword = {financial development, economic growth, transition, spectral Granger causality} }
@article{article, author = {\v{S}kare, Marinko and Porada-Rocho\'{n}, Ma\lgorzata}, year = {2019}, pages = {7-35}, DOI = {10.24136/oc.2019.001}, keywords = {financial development, economic growth, transition, spectral Granger causality}, journal = {Oeconomia Copernicana}, doi = {10.24136/oc.2019.001}, volume = {10}, number = {1}, issn = {2083-1277}, title = {Financial and economic development link in transitional economies: a spectral Granger causality analysis 1991–2017}, keyword = {financial development, economic growth, transition, spectral Granger causality} }

Časopis indeksira:


  • Current Contents Connect (CCC)
  • Web of Science Core Collection (WoSCC)
    • Social Science Citation Index (SSCI)
    • SCI-EXP, SSCI i/ili A&HCI
  • Scopus
  • EconLit


Citati:





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