An empirical analysis of the relationship between bank credit and economic growth

Marcos Roberto Vasconcelos; Vitor Gomes Reginato; Marina Silva da Cunha

doi:10.5007/2175-8085.2021.e72868

Autores/as

Marcos Roberto Vasconcelos Universidade Estadual de Maringá, Departamento de Economia https://orcid.org/0000-0003-1476-4899
Vitor Gomes Reginato https://orcid.org/0000-0001-8819-0272
Marina Silva da Cunha Professora titular da Universidade Estadual de Maringá, Departamento de Economia https://orcid.org/0000-0001-9122-3944

DOI:

https://doi.org/10.5007/2175-8085.2021.e72868

Resumen

This paper tests the hypothesis that bank credit is necessary for economic growth, depending on the country's level of economic and financial development. It also seeks to verify whether the relationship between financial development and economic growth is monotonic. For this, Granger's causality methodology is used for panel data, with data from 106 countries for the period between 1970 and 2016. It is observed that there was an expansion of world credit above the economic growth observed over the studied period. The main empirical findings indicate that, in general, credit causes economic growth and vice versa, in addition to verifying the non-monotonicity of the relationship between financial development and economic growth, so that, for very low credit / GDP indices, the causality of the credit to GDP is not verified.

Biografía del autor/a

Marcos Roberto Vasconcelos, Universidade Estadual de Maringá, Departamento de Economia

Doutor em Teoria Econômica pela Uiversidade Estadual de Campinas (UNICAMP)

Professor Associado da Universidade Estadual de Maringá, Departamento de Economia

Vitor Gomes Reginato

Doutor em Economia pela Universidade Estadual de Maringá

Marina Silva da Cunha, Professora titular da Universidade Estadual de Maringá, Departamento de Economia

Doutora em Economia Aplicada pela ESALQ/USP e Pós-doutorado pela UNB

Professora titular da Universidade Estadual de Maringá, Departamento de Economia

Citas

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An empirical analysis of the relationship between bank credit and economic growth

Autores/as

DOI:

Resumen

Biografía del autor/a

Marcos Roberto Vasconcelos, Universidade Estadual de Maringá, Departamento de Economia

Vitor Gomes Reginato

Marina Silva da Cunha, Professora titular da Universidade Estadual de Maringá, Departamento de Economia

Citas

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