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Emerging Markets and the Global Economy by Duc Khuong Nguyen, Sabri Boubaker, Mohammed Hedi Arouri

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Chapter 34

Financial Development and its Effects on Economic Growth: A Dynamic Analysis

Christophe Raulta,b, Anamaria Sovac,d,e,f,g, Robert Sovad and Guglielmo Maria Caporalee,    aUniversité d’Orléans, Orléans, France,    bToulouse Business School, France,    cEconomic Business Research Centre, Bucharest, Romania,    dASE, Bucharest University of Economics Studies, Romania,    eBrunel University, London, UK,    fCESifo, Munich, Germany,    gDIW, Berlin, Germany,    E-mail: chrault@hotmail.com, http://chrault3.free.fr/

Abstract

The relationship between financial development and economic growth has been extensively analyzed in the literature. A particular case is that of the Central and Eastern European countries (CEECs), where reforming the banking ...

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