Finance-led growth hypothesis for Asia: an insight from new data
| dc.contributor.author | Abdulkareem Alhassan, Muktar Sabi Adamu, Shuaibu Sidi Safiyanu | |
| dc.date.accessioned | 2025-01-24T09:59:01Z | |
| dc.date.available | 2025-01-24T09:59:01Z | |
| dc.date.issued | 2023-04-03 | |
| dc.description.abstract | The quest for the development of financial system has been the major concern of the Asian economies over the years. Using a System Generalized Methods of Moments technique for 44 Asian countries over the period 1980–2017, we evaluate the effect of financial development on economic growth for the entire Asia, sub-regions and groups of the countries by their levels of income. Additionally, we considered the subcomponents of the financial system. The contribution of this study hinges on the use of a comprehensive measure of financial development, and consideration of the heterogeneity of the Asian countries concerning the finance-growth nexus. The findings revealed that financial development spurs economic growth in Asia. Specifically, the development of financial institutions have a greater impact than development of financial markets on growth of upper-middle and high-income countries while the reverse is the case for low and low-middle income countries in the continent. | |
| dc.identifier.citation | 18 | |
| dc.identifier.uri | https://www.tandfonline.com/doi/abs/10.1080/13547860.2021.1912883 | |
| dc.identifier.uri | https://kwasuspace.kwasu.edu.ng/handle/123456789/3053 | |
| dc.language.iso | en | |
| dc.publisher | Routledge | |
| dc.relation.ispartofseries | 28; 2 | |
| dc.title | Finance-led growth hypothesis for Asia: an insight from new data |