Finance-led growth hypothesis for Asia
An insight from new data
Bibliographic Data
| ID | 12549574 |
|---|---|
| Authors | Abdulkareem Alhassan (0000-0001-6152-7728, Eastern Mediterranean University, corresponding author), Muktar Sabi Adamu (Kwara State University), Shuaibu Sidi Safiyanu (Universiti Sains Malaysia) |
| Year | 2021 |
| Volume | 28 |
| Issue | 2 |
| Pages | 599-618 |
| Publication date | 2021-05-25 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of the Asia Pacific Economy (JOURNAL) |
| Journal identifiers | ISSN: 1354-7860 • E-ISSN: 1469-9648 |
| Publisher | Routledge (PUBLISHER • GB) |
| DOI | 10.1080/13547860.2021.1912883 |
| OpenAlex | W3164466849 |
| Language | EN |
| Citations received | 3 |
| References cited | 34 |
The quest for the development of financial system has been the major concern of the Asian economies over the years. Using a System Generalized Methods of Moments technique for 44 Asian countries over the period 1980–2017, we evaluate the effect of financial development on economic growth for the entire Asia, sub-regions and groups of the countries by their levels of income. Additionally, we considered the subcomponents of the financial system. The contribution of this study hinges on the use of a comprehensive measure of financial development, and consideration of the heterogeneity of the Asian countries concerning the finance-growth nexus. The findings revealed that financial development spurs economic growth in Asia. Specifically, the development of financial institutions have a greater impact than development of financial markets on growth of upper-middle and high-income countries while the reverse is the case for low and low-middle income countries in the continent
Developed country · Developing country · Economic growth · Economics · Financial market · Financial sector development · Financial system · Nexus (standard · South asia · Economic Growth and Development · Islamic Finance and Banking Studies · Microfinance and Financial Inclusion · Finance
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| Unique citing works | 3 |
|---|---|
| Citations per year | 0,75 |
| Citation span | 2022 - 2025 (4) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 3 |