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dc.contributor.authorSingh, Tarloken_US
dc.contributor.editorMark P. Tayloren_US
dc.date.accessioned2017-04-24T11:48:31Z
dc.date.available2017-04-24T11:48:31Z
dc.date.issued2008en_US
dc.date.modified2011-07-01T06:57:15Z
dc.identifier.issn00036846en_US
dc.identifier.doi10.1080/00036840600892886en_AU
dc.identifier.urihttp://hdl.handle.net/10072/22345
dc.description.abstractThis study examines the relationship between financial development and economic growth in India for the period 1951-52 to 1995-96. The long-run equilibrium and short-run dynamic models are estimated using financial interrelations ratio and new issue ratio as the measures of financial development, a la Goldsmith (1969). The Johansen (1991) estimator rejects the null of zero cointegrating vector and shows the presence of long-run equilibrium relationship between financial development and economic growth. The error correction model, impulse response and variance decomposition analyses (Sims, 1980), and the Toda and Yamamoto (1995) estimator show the presence of bidirectional Granger-causality between financial development and economic growth. The presence of bidirectional Granger-causality suggested by these estimators points towards the possible problem of endogeneity and simultaneity bias in the growth models that examine the contemporaneous effect of financial development on economic growth. The economic reforms that started since July 1991 emphasized on the liberalization and development of financial sector to supplement the efforts aimed at achieving high economic growth in India.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherRoutledgeen_US
dc.publisher.placeOxford, UKen_US
dc.relation.ispartofstudentpublicationNen_AU
dc.relation.ispartofpagefrom1615en_US
dc.relation.ispartofpageto1627en_US
dc.relation.ispartofedition2008en_US
dc.relation.ispartofissue12en_US
dc.relation.ispartofjournalApplied Economicsen_US
dc.relation.ispartofvolume40en_US
dc.rights.retentionYen_AU
dc.subject.fieldofresearchcode340203en_US
dc.titleFinancial Development and Economic Growth Nexus: A Time Series Evidence from Indiaen_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.facultyGriffith Business School, Department of Accounting, Finance and Economicsen_US
gro.date.issued2008
gro.hasfulltextNo Full Text


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