{"title":"经济增长、金融深化与信息通信技术之间的关系:来自黎巴嫩的经验证据","authors":"Salah Abosedra, Ali Fakih","doi":"10.17256/JER.2014.19.1.001","DOIUrl":null,"url":null,"abstract":"The impact of financial deepening and the use of information and communication technology (ICT) in Lebanon\"s economy is empirically investigated by estimating a Vector Error Correction Model (VECM) using data from 1993 to 2009. In the short-run, our empirical results show that neither financial deepening nor ICT seems to impact economic growth. However, there is a unidirectional causality running from economic growth to financial deepening implying that the `demand-following\" hypothesis, in which financial development is a by-product of growth, is supported in the case of Lebanon. In the long-run, economic growth is found to be strongly related to financial deepening and ICT levels. This suggests the absence of evidence for a dampening effect from either financial deepening or ICT developments on cyclical fluctuations in the shortrun, but strong effects in the long-run growth in Lebanon. A major implication of our results is that growth volatility reductions in Lebanon expected from developments of financial markets, or ICT will be slow to materialize.","PeriodicalId":90860,"journal":{"name":"International journal of economic research","volume":"1 1","pages":"1-17"},"PeriodicalIF":0.0000,"publicationDate":"2014-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"9","resultStr":"{\"title\":\"The relationships between economic growth, financial deepening, and information and communication technology: Empirical evidence from Lebanon\",\"authors\":\"Salah Abosedra, Ali Fakih\",\"doi\":\"10.17256/JER.2014.19.1.001\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The impact of financial deepening and the use of information and communication technology (ICT) in Lebanon\\\"s economy is empirically investigated by estimating a Vector Error Correction Model (VECM) using data from 1993 to 2009. In the short-run, our empirical results show that neither financial deepening nor ICT seems to impact economic growth. However, there is a unidirectional causality running from economic growth to financial deepening implying that the `demand-following\\\" hypothesis, in which financial development is a by-product of growth, is supported in the case of Lebanon. In the long-run, economic growth is found to be strongly related to financial deepening and ICT levels. This suggests the absence of evidence for a dampening effect from either financial deepening or ICT developments on cyclical fluctuations in the shortrun, but strong effects in the long-run growth in Lebanon. A major implication of our results is that growth volatility reductions in Lebanon expected from developments of financial markets, or ICT will be slow to materialize.\",\"PeriodicalId\":90860,\"journal\":{\"name\":\"International journal of economic research\",\"volume\":\"1 1\",\"pages\":\"1-17\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2014-05-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"9\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International journal of economic research\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.17256/JER.2014.19.1.001\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International journal of economic research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.17256/JER.2014.19.1.001","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
The relationships between economic growth, financial deepening, and information and communication technology: Empirical evidence from Lebanon
The impact of financial deepening and the use of information and communication technology (ICT) in Lebanon"s economy is empirically investigated by estimating a Vector Error Correction Model (VECM) using data from 1993 to 2009. In the short-run, our empirical results show that neither financial deepening nor ICT seems to impact economic growth. However, there is a unidirectional causality running from economic growth to financial deepening implying that the `demand-following" hypothesis, in which financial development is a by-product of growth, is supported in the case of Lebanon. In the long-run, economic growth is found to be strongly related to financial deepening and ICT levels. This suggests the absence of evidence for a dampening effect from either financial deepening or ICT developments on cyclical fluctuations in the shortrun, but strong effects in the long-run growth in Lebanon. A major implication of our results is that growth volatility reductions in Lebanon expected from developments of financial markets, or ICT will be slow to materialize.