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Sistema Financeiro E Desenvolvimento Econômico: Evidências De Causalidade Em Um Painel Para O Brasil
| Content Provider | Semantic Scholar |
|---|---|
| Author | Rocha, Bruno De Paula Nakane, Márcio Issao |
| Copyright Year | 2007 |
| Abstract | This article aims to verify the direction of causality between the level of development economic and the financial system through a panel analysis applied to a sample of Brazilian States. In order to implement the tests, we propose a procedure based on the methodologies suggested by Holtz-Eakin, Newey and Rosen (1988) and Granger and Huang (1997). Two results should be mentioned. First, there is strong evidence of causality from financial indicators to activity level. The second one is related to the finding of causality on the contrary direction when monthly data are used. This inversion of results can be explained by the long run’s nature of the relationship between economic development and financial system. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://www.anpec.org.br/encontro2007/artigos/A07A009.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |