English  |  正體中文  |  简体中文  |  Items with full text/Total items : 60696/93562 (65%)
Visitors : 1040517      Online Users : 31
RC Version 7.0 © Powered By DSPACE, MIT. Enhanced by NTU Library & TKU Library IR team.
Scope Tips:
  • please add "double quotation mark" for query phrases to get precise results
  • please goto advance search for comprehansive author search
  • Adv. Search
    HomeLoginUploadHelpAboutAdminister Goto mobile version
    Please use this identifier to cite or link to this item: https://tkuir.lib.tku.edu.tw/dspace/handle/987654321/77778

    Title: The Asymmetric Impact of Financial Intermediaries Development on Economic Growth
    Authors: Nieh, Chien-chung;Chang, Ya-kai;Russel, Philip;Hung, Ken
    Contributors: 淡江大學財務金融學系
    Date: 2009
    Issue Date: 2012-07-22
    Publisher: International Journal of Finance
    Abstract: This paper investigates the role of financial intermediaries development in stimulating economic growth for 71 countries. Using conventional models and various indicators of financial development, we confirm the positive impact of financial development on economic growth. We further analyze the asymmetric effect of financial intermediary development on the range of growth distribution using quantile regression model developed by Koenker and Basset (1978) and instrumental variables quantile regression model developed by Chernozhukov and Hansen (2004b, 2005). We find that financial development does not have an uniform effect across the range of growth quantiles. The benefits are markedly higher for countries at higher levels of growth. The findings emphasize the important role of financial development in promoting economic growth. Nonetheless, acceleration of financial development is not the panacea for less developed countries. Financial reforms have to be complemented with social, economic and political reforms to place these countries on the path of rapid economic growth and prosperity.
    Relation: International Journal of Finance 21(2), pp.6035-6079
    Appears in Collections:[Graduate Institute & Department of Banking and Finance] Journal Article

    Files in This Item:

    File Description SizeFormat

    All items in 機構典藏 are protected by copyright, with all rights reserved.

    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library & TKU Library IR teams. Copyright ©   - Feedback