American Journal of Business and Society
Articles Information
American Journal of Business and Society, Vol.1, No.4, Nov. 2016, Pub. Date: Aug. 19, 2016
Financial Development, Financial Integration and Economic Growth
Pages: 195-199 Views: 3189 Downloads: 1729
Authors
[01] Arash Ketabforoush Badri, Department of Economics, College of Management and Accounting, Qazvin Branch, Islamic Azad University, Qazvin, Iran.
[02] Aidin Poorabdollahi Sheshgelani, Master of Executive Management, Department of Management, Tabriz Branch, Islamic Azad University, Tabriz, Iran.
Abstract
The effects of financial development and economic growth is one of the importance chanals included the economic issues and have followed a lot of debates. Some economists believe that financial development by increasing savings and increased levels of investment can provide an appropriate basis for economic growth and some others are emphasized, to transfer the effect of financial development on economic growth through its effects on resource allocation and investment efficiency. For this purpose this study is trying to deal with the relationship between financial development, financial integration and economic growth in 24 OIC selected countries using panel data method in period 2005 to 2013. The results of the study show that financial development, human education and government spending have positive effect and financial integration has negative effect on growth in studied countries.
Keywords
Financial Development, Financial Integration, Economic Growth, Panel Data
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