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How Global Financial Crisis affected the financial development and economic growth?


Celik Girgin, S and Nguyen, H-O and Karlis, T, How Global Financial Crisis affected the financial development and economic growth?, Proceedings of the Institute of Global Finance and the School of Banking and Finance, UNSW Business School, 13-15 December 2017, Sydney, Australia, pp. 1-12. (2017) [Refereed Conference Paper]

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A growing body of theoretical and empirical literature analyses the relationship between finance and economic growth. The relationship has been strongly supported by many empirical analyses. However, Global Financial Crisis, 2008 and significantly improved econometric techniques made scholars to revisit this relationship. The main motivation of this paper is to empirically revisit the traditional financial development proxies relationship with economic growth after world’s second greatest financial crisis. In this study, both fixed effect and dynamic panel data analysis are conducted by using 147 countries over the period of 2000- 2013. The analysis results prove the destructive effect of GFC, 2008 on the relationship between financial development and economic growth. Also, the finding showed that the significance of traditional financial development proxies has lowered after the crisis.

Item Details

Item Type:Refereed Conference Paper
Keywords:economic growth, financial development, Global Financial Crisis, panel data
Research Division:Commerce, Management, Tourism and Services
Research Group:Transportation, logistics and supply chains
Research Field:Transportation, logistics and supply chains not elsewhere classified
Objective Division:Transport
Objective Group:Water transport
Objective Field:International sea freight transport (excl. live animals, food products and liquefied gas)
UTAS Author:Celik Girgin, S ( Sinem Celik Girgin)
UTAS Author:Nguyen, H-O (Associate Professor Oanh Nguyen)
UTAS Author:Karlis, T (Professor Athanasios Karlis)
ID Code:123902
Year Published:2017
Deposited By:NC Maritime Engineering and Hydrodynamics
Deposited On:2018-01-31
Last Modified:2018-04-20

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