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AuthorGoaied, Mohamed
AuthorGasmi, Amira
Available date2023-01-18T08:39:02Z
Publication Date2021
Publication NameAustralian Economic Papers
ResourceScopus
URIhttp://dx.doi.org/10.1111/1467-8454.12218
URIhttp://hdl.handle.net/10576/38567
AbstractWe use two panel data techniques in a novel large dataset to assess the dynamic interactions of household and enterprise credit with growth in developed and developing countries. Panel vector autoregressive (VAR) results reject the hypothesis that finance only follows economic growth. Instead, both panel techniques provide strong evidence that higher allocations of household credit are an impediment to economic growth regardless of a country's level of development. Otherwise, empirical results confirm that firm credit expansions are conducive to economic growth; however, this effect is not immediate in developing countries but it appears with a 1-year delay. Our results provide evidence that the credit-growth nexus changes over time and during the development process. These findings may explain the ambiguous and vanishing effect of finance on growth in recent literature. 2020 John Wiley & Sons Australia, Ltd
SponsorThe authors are grateful to Dr. Florian Leon who compiled and provided the data.
Languageen
PublisherJohn Wiley and Sons Inc
SubjectC33
E44
economic growth
enterprise credit
GMM
household credit
O16
panel vector autoregressive model
TitleThe effects of household and firm credit on growth: New evidence from a panel of developed and developing countries
TypeArticle
Pagination544-561
Issue Number3
Volume Number60
dc.accessType Abstract Only


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