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    政大機構典藏 > 商學院 > 金融學系 > 期刊論文 >  Item 140.119/73897
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/73897

    Title: Roles played by financial development in economic growth: application of the flexible regression model
    Authors: Shen, Chung-Hua;Lee, Chien-Chiang;Chen, Shyh-Wei;Xie, Zixiong
    Contributors: 金融系
    Keywords: Banking development;Economic growth;Stock market development;Flexible nonlinear estimation
    Date: 2010-04
    Issue Date: 2015-03-18 14:26:46 (UTC+8)
    Abstract: 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.
    Relation: Empirical Economics, 41(1), 103-125
    Data Type: article
    DOI 連結: http://dx.doi.org/10.1007/s00181-010-0353-z
    DOI: 10.1007/s00181-010-0353-z
    Appears in Collections:[金融學系] 期刊論文

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