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Full-Text Articles in International Economics
Bank Credit And Economic Growth: A Dynamic Panel Analysis, Nuno Carlos Leitão
Bank Credit And Economic Growth: A Dynamic Panel Analysis, Nuno Carlos Leitão
Nuno Carlos Leitão
This study examines the link between bank lending and economic growth for European Union (EU-27) for the period 1990 to 2010. We apply a dynamic panel data (GMM-system estimator). This estimator permits to solve the problems of serial correlation, heteroskedasticity and endogeneity for some explanatory variables. As the results show, savings promotes growth. The inflation and bank credit have a negative impact on economic growth as previous studies.
Foreign Direct Investment-Economic Growth Nexus: The Role Of Domestic, Nuno Carlos Leitão
Foreign Direct Investment-Economic Growth Nexus: The Role Of Domestic, Nuno Carlos Leitão
Nuno Carlos Leitão
The aim of present paper is to examine the role of financial development on FDI-Growth nexus using annual data over the period of 1975-2008. The results show that financial development is playing its role well but not satisfactory. This study will provide new guidelines for policy making authorities for Portuguese's economy. The manuscript applies the unrestricted error correction model (ECM) estimator advanced by Inder (1993) while ARDL bounds testing approach is employed to find cointegration among variables. Stationarity issue is investigated by Ng-Perron unit root test. The results show that financial development stimulates economic growth for the case of Portugal. …