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https://ah.lib.nccu.edu.tw/handle/140.119/73897
題名: | Roles played by financial development in economic growth: application of the flexible regression model | 作者: | Shen, Chung-Hua;Lee, Chien-Chiang;Chen, Shyh-Wei;Xie, Zixiong 沈中華 |
貢獻者: | 金融系 | 關鍵詞: | Banking development; Economic growth; Stock market development; Flexible nonlinear estimation | 日期: | Apr-2010 | 上傳時間: | 18-Mar-2015 | 摘要: | This study presents the nonlinear relationship that exists between financial development and economic growth. This study applies the flexible nonlinear regression model of Hamilton (Econometrica 69(3):537–573, 2001) because it imposes no specification restrictions. Two empirical results are obtained. First, an inverted U-shaped relation between banking sector development and economic growth is identified. Namely, the two variables are positively linked before the turning point, but negatively linked after it. Second, a positive relationship with asymmetric √-shape between stock market development and economic growth is found. | 關聯: | Empirical Economics, 41(1), 103-125 | 資料類型: | article | DOI: | http://dx.doi.org/10.1007/s00181-010-0353-z |
Appears in Collections: | 期刊論文 |
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