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    Title: The asymmetric impact of financial intermediaries development on the growth distribution
    Other Titles: 金融機構發展與經濟成長之間不對稱關係之研究
    Authors: 張雅凱;Chang, Ya-kai
    Contributors: 淡江大學財務金融學系碩士班
    聶建中;Nieh, Chien-chung;莊孟翰;Chuang, Meng-han
    Keywords: 金融機構發展;經濟成長;分量迴歸(QR);工具變數分量迴歸(IVQR);Financial Intermediary Development;Economic Growth;Quantile Regression(QR);Instrumental Variables Quantile Regression(IVQR)
    Date: 2006
    Issue Date: 2010-01-11 01:06:49 (UTC+8)
    Abstract: 本文利用Koenker and Basset (1978) 年所提出的分量迴歸模型(QR)來探討不同經濟成長下的國家,金融機構發展與國家經濟成長之間存在的不對稱關係。另外,為了解決內生性的問題,本文亦使用Chernozhukov and Hansen (2004b, 2005) 所建議的工具變數分量迴模型(IVQR),並且以法源當作工具變數。
    實證結果顯示,金融機構發展與經濟成長的關係,在各分量下皆呈現正的影響,且此效果會隨著分量的提高而有逐漸增加的趨勢。另外,本文亦發現,經濟成長屬於中上的國家,著重本身金融機構的發展,相較於教育程度的改善,對促進國家經濟成長更為重要;相反地,屬於中下經濟成長的國家,反而藉由提高教育程度,來增加本身經濟成長的效果較佳。
    This paper applies the Quantile Regressions (QR) approach developed by Koenker and Basset (1978) to examine the asymmetric effect of financial intermediary development on economic growth at each quantile of conditional growth distribution. In order to solve the endogeneity problem of financial intermediary development, this paper also uses another new Instrumental Variables Quantile Regressions (IVQR) method developed by Chernozhukov and Hansen (2004b, 2005) and uses the law origins as instrumental variables. The results show the effect of financial intermediary development on economic growth are positive over the entire range of the growth distribution, and appear the effect tends to increase at lower quantiles moving to higher conditional quantiles of growth. Moreover, this paper finds that some countries up the median of growth distribution can further their economic growth by improving their financial intermediary development. By contrast, some countries down the median of growth distribution can increase the educational attainment to advance the country economic growth
    Appears in Collections:[財務金融學系暨研究所] 學位論文

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