The role of the financial sector in the UK economy
Evidence from a seasonal cointegration analysis
Bibliographic Data
| ID | 15067693 |
|---|---|
| Authors | Sami Fethì (0000-0003-4434-9223, Eastern Mediterranean University, corresponding author), Salih Katircioglu (0000-0001-5108-9461, Eastern Mediterranean University) |
| Year | 2015 |
| Volume | 28 |
| Issue | 1 |
| Pages | 717-737 |
| Publication date | 2015-01-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2015.1084476 |
| OpenAlex | W1861598234 |
| Language | EN |
| Citations received | 3 |
| References cited | 58 |
This article empirically investigates the relationship between stock market/banking sector development and economic growth by controlling for the effects of human and physical capital factors in a seasonal cointegration framework. We use a sample of quarterly and seasonally unadjusted data which covers the period 1965Q1–2011Q4. The results suggest that: (1) the UK financial sector development is a good promoter of the domestic economy both in the long- and the short-run; (2) the supply-leading hypothesis that causality runs from stock market capitalisation and stock market volatility to real GDP per worker is confirmed; (3) stock market volatility has a negative influence on the UK’s output, which may reflect economic ambiguity but may also reflect a well-functioning and efficient stock market; (4) if a country has a good infrastructure and a well-educated nation, it enhances economic growth as well as betters the financial sector (i.e. markets and banks); and (5) if a new global financial meltdown is formed, this can easily devastate the UK economy
Capital market · Cointegration · Econometrics · Economics · Economy · Financial economics · Financial market · Market capitalization · Monetary economics · Stock market · Banking stability, regulation, efficiency · Housing Market and Economics · Monetary Policy and Economic Impact · Finance
Financial structure and development.
Economic organization
The rate of interest and other essays
Testing structural hypotheses in a multivariate cointegration analysis of the PPP and the UIP for UK
Financial Intermediation and Delegated Monitoring
Finance and Growth
Forecasting and testing in co-integrated systems
A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics 1
Financial Intermediation and Endogenous Growth
Finance, entrepreneurship and growth
Efficient Tests of Nonstationary Hypotheses
Seasonal integration and cointegration
Financial markets and growth
Macroeconomics and Reality
Maximum Likelihood Estimation and Inference on Cointegration — With Applications to the Demand for Money
Financial development and economic growth
Financial liberalization, financial sector development and growth
A quantitative reassessment of the finance–growth nexus
Does financial development cause economic growth? Time-series evidence from 16 countries
Alternative econometric approaches for analysing the role of the financial sector in economic growth
Performance Pay and Top-Management Incentives
Financial Development and Economic Growth
The Relevance of P-Star Analysis to UK Monetary Policy
Econometric Modelling of the Aggregate Time-Series Relationship Between Consumers' Expenditure and Income in the United Kingdom
Financial Deepening in Economic Development
A Contribution to the Empirics of Economic Growth
Statistical analysis of cointegration vectors
Financial Development and Economic Growth in Underdeveloped Countries
| Unique citing works | 3 |
|---|---|
| Citations per year | 0,43 |
| Citation span | 2019 - 2022 (4) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 3 |