@article{ART001725908},
author={Jo,Gab Je},
title={Financial Development and Economic Growth in Korea},
journal={Journal of Regional Studies and Development},
issn={1738-3846},
year={2012},
volume={21},
number={2},
pages={55-73}
TY - JOUR
AU - Jo,Gab Je
TI - Financial Development and Economic Growth in Korea
JO - Journal of Regional Studies and Development
PY - 2012
VL - 21
IS - 2
PB - Institute for Poverty Alleviation and International Development: IPAID
SP - 55
EP - 73
SN - 1738-3846
AB - This paper attempts to find the nexus between financial development and economic growth in Korea, focusing on two issues: the causality between financial development and economic growth and the measurement of financial development. It was found that financial development Granger caused economic growth, but financial depth did not Granger cause economic growth. Conversely, economic growth did not Granger cause financial development or financial depth. The cointegration estimates show that economic growth in Korea has been positively related with financial development, while economic growth has been negatively related with financial depth, which is statistically significant. The impulse response function and variance decomposition confirm that financial development and investment have been the main driver of economic growth. Thus, this study could support the argument that financial development, not financial depth, has had positive effects on economic growth in Korea.
KW - Financial Development. Economic Growth;Financial Depth;Korea;Economic Development
DO -
UR -
ER -
Jo,Gab Je. (2012). Financial Development and Economic Growth in Korea. Journal of Regional Studies and Development, 21(2), 55-73.
Jo,Gab Je. 2012, "Financial Development and Economic Growth in Korea", Journal of Regional Studies and Development, vol.21, no.2 pp.55-73.
Jo,Gab Je "Financial Development and Economic Growth in Korea" Journal of Regional Studies and Development 21.2 pp.55-73 (2012) : 55.
Jo,Gab Je. Financial Development and Economic Growth in Korea. 2012; 21(2), 55-73.
Jo,Gab Je. "Financial Development and Economic Growth in Korea" Journal of Regional Studies and Development 21, no.2 (2012) : 55-73.
Jo,Gab Je. Financial Development and Economic Growth in Korea. Journal of Regional Studies and Development, 21(2), 55-73.
Jo,Gab Je. Financial Development and Economic Growth in Korea. Journal of Regional Studies and Development. 2012; 21(2) 55-73.
Jo,Gab Je. Financial Development and Economic Growth in Korea. 2012; 21(2), 55-73.
Jo,Gab Je. "Financial Development and Economic Growth in Korea" Journal of Regional Studies and Development 21, no.2 (2012) : 55-73.
