Financial Structures and Economic Development: Empirical Evidence from BRICS Countries and Mauritius

Jugurnath, Bhavish; Elahee, A; Sheereen, Fauzel; Soondram, Hema

doi:10.1353/jda.2018.0009

Cited by 1 publication

(2 citation statements)

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“…Surprisingly, broad money, trade balance and domestic credit have no considerable influence on promoting economic growth which is generally unexpected. According to Bhavish et al (2018), who studied the BRICS countries, a country's financial structure is a major factor in determining its level of economic and financial growth. Their research led them to the conclusion that economies with market-based financial structures saw greater development in the short term but higher economic volatility in the long run.…”

Section: Empirical Literaturementioning

confidence: 99%

“…1 According to the World Bank, since the nation's independence, its real GDP growth has accelerated, reaching an astounding 6.4% growth on average in the 2010s. 2 In addition, Bangladesh aims to achieve upper middle-income status by 2031 in line with its consistent growth in per capita income. Bangladesh is scheduled to leave its Least Developed Country (LDC) status in 2026.…”

Section: Introductionmentioning

confidence: 99%

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Finding Causality Between Finance and Growth in Bangladesh

2023

IJFMR

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The relationship between financial development and economic growth has gained much attention in the last three decades. It has been primarily believed that financial sector development promotes economic growth. A lot of theoretical and empirical research has been done in this field and the results which came out are a kind of mixed relationship between the two. Bangladesh, a country in the SAARC region has taken different financial reform policies in the same line with other developed and developing countries. The main purpose of this paper is to investigate the relationship between financial development and economic growth in Bangladesh. Annual time series data for the period 1976 to 2020 has been taken and the ARDL technique has been used for this purpose. The ARDL bound testing shows that there is a long-run relationship between financial development variables and economic growth. In the short run, all the proxies of financial development were found to have a significant relation to economic growth. The study has found two bidirectional causality and one unidirectional causality between the variables.

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Section: Empirical Literaturementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%