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The impact of European Monetary Union on the relationship between financial development and growth


Citation

Armin, Saeed and Ibrahim, Saifuzzaman and Wan Ngah, Wan Azman Saini (2012) The impact of European Monetary Union on the relationship between financial development and growth. In: National Research & Innovation Conference for Graduate Students in Social Sciences (GS-NRIC 2012), 7-9 Dec. 2012, Mahkota Hotel, Melaka. (pp. 176-185).

Abstract / Synopsis

This study aims to examine the relationship between financial development and economic growth for 15 developed European countries before and after the launch of Euro. The results of the panel data analysis show that financial development is significant in promoting economic growth for both periods. However, the impact of banking sector development on growth is greater in the post-euro period while the impact of stock market development on growth is slightly smaller in that period. The study concludes that the formation of the European Monetary Union (EMU) does not weaken the relationship between financial development and economic growth in the developed European countries.


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Additional Metadata

Item Type: Conference or Workshop Item (Paper)
Divisions: Faculty of Economics and Management
Keywords: Financial development; Economic growth; European Monetary Union; Panel data; Banking sector; Stock market
Depositing User: Samsida Samsudin
Date Deposited: 15 Oct 2014 14:28
Last Modified: 07 Oct 2016 09:21
URI: http://psasir.upm.edu.my/id/eprint/32214
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