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The impact of European Monetary Union on finance-growth Nexus

Armin, Saeed and Ibrahim, Saifuzzaman and Wan Ngah, Wan Azman Saini (2013) The impact of European Monetary Union on finance-growth Nexus. Transition Studies Review, 19 (3). pp. 347-356. ISSN 1614-4007; ESSN: 1614-4015

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Abstract

This study examines the relationship between financial development and economic growth in 15 developed European countries before and after the formation of the euro. The results of the panel data analysis show that financial development is significant in promoting economic growth for both periods. The impact of the banking sector development on growth, however, is greater in the post-euro period, whereas the impact of stock market development on growth is reducing in the period investigated. The study concludes that the formation of European Monetary Union does not weaken the relationship between financial development and economic growth in developed European countries.

Item Type:Article
Keyword:Financial development; Economic growth; European Monetary Union; Panel data analysis
Faculty or Institute:Faculty of Economics and Management
Publisher:Springer
DOI Number:10.1007/s11300-012-0249-z
Altmetrics:http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1007/s11300-012-0249-z
ID Code:28252
Deposited By: Nabilah Mustapa
Deposited On:27 Apr 2015 11:47
Last Modified:21 Sep 2015 14:24

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