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2024 | OriginalPaper | Chapter

Financial Development and Economic Growth: A Case of Developing Countries

Authors : Diem Thi Thuy Pham, Hoai Trong Nguyen

Published in: Applications of Optimal Transport to Economics and Related Topics

Publisher: Springer Nature Switzerland

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Abstract

This study analyses the effect of financial development on economic growth in 64 developing countries during the period 2003–2017 using a Bayesian model averaging approach. The results indicate that financial development has a significant U-shaped effect on economic growth, providing new insight concerning the relationship between financial development and economic growth. We also demonstrate that investment to gross domestic product ratio and foreign direct investment have significant positive effects on economic growth, whereas population growth has a significant negative impact on economic growth.

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Title: Financial Development and Economic Growth: A Case of Developing Countries
Authors: Diem Thi Thuy Pham
Hoai Trong Nguyen
Publisher: Springer Nature Switzerland
Book: Applications of Optimal Transport to Economics and Related Topics
Print ISBN: 978-3-031-67769-4

Electronic ISBN: 978-3-031-67770-0

Copyright Year: 2024
DOI: https://doi.org/10.1007/978-3-031-67770-0_20

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