Mohammadi F, Solaymani S, Solaymani M. (2011). Quantitative Reassessment of the Financial Development–Growth Nexus: Application of ARDL and VDCM Models.
JEPR.
15(2 and 3), 113-139.
URL:
http://jpbud.ir/article-1-20-en.html
Abstract: (16111 Views)
This study is a quantitative reassessment of the effects of financial development on Iran’s economic growth within the period of 1973-2007 using both Autoregressive Distributed Lag (ARDL) and Variance Decomposition (VDCM) approaches. The empirical results reveal that the financial development has a significant and positive impact on shot-run and long-run economic growth. The shot-run and long-run elasticity of the real GDP to financial development are very little, indicating its very low sensitivity to shot-run and long-run changes of financial development though its long-run elasticity is higher than the short-run one.
Type of Study:
Applicable |
Received: May 15 2011 | ePublished: Jan 15 2011