衡量金融发展对印度的经济增长重要吗?

IF 3.2 Q1 BUSINESS, FINANCE

Quantitative Finance and Economics Pub Date : 2019-08-01 DOI:10.3934/QFE.2019.3.508

N. Tripathy

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引用次数: 25

摘要

本研究采用自回归分布滞后（ARDL）模型和广义矩量法（GMM）模型，考察了2003年6月至2018年2月15年来印度金融发展对经济增长的影响。研究结果表明，从短期和长期来看，金融发展对印度的经济发展都有积极而显著的影响。CUSUM检验证实了它们之间的长期稳定性关系。因此，该研究提出，深化金融部门应推动印度经济增长。研究结果有助于理解决定经济和金融发展竞争地位的因素。为了促进经济和金融发展，企业和政策制定者都需要采取适当和协调的行动。这项研究对全球和机构投资者在印度做出更好的投资决策产生了重大影响。

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Does measure of financial development matter for economic growth in India?

The present study examines the impact of financial development on economic growth in India by using Auto-Regressive Distributed Lag (ARDL) model and the Generalized Method of Moment (GMM) model over 15 years from June 2003 to February 2018. The results of the study indicate that financial development has a positive and significant impact on economic progression both in short run and long run in India. The CUSUM test confirms the long-run stability relationship among them. Therefore, the study proposed that financial sector deepening should push ahead to augment economic growth of India. The outcomes of the study contribute to understanding the factors, which determine the economic and financial development competitive position. To foster economic and financial development, the suitable and harmonizing action required by both firms and policymakers. This study has a substantial impact on global and institutional investors to make better investment decisions in India.

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来源期刊

Quantitative Finance and Economics BUSINESS, FINANCE-

CiteScore

0.30

自引率

1.90%

发文量

审稿时长

12 weeks