Short-Run and Long-Run Causality Between the Structure of Financial System and Economic Development | Zendy

Vilma Deltuvaitė | Zendy; Lina Sinevičienė | Zendy

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Short-Run and Long-Run Causality Between the Structure of Financial System and Economic Development

Author(s) -

Vilma Deltuvaitė,

Lina Sinevičienė

Publication year - 2015

Publication title -

economics and business

Language(s) - English

Resource type - Journals

eISSN - 2256-0394

pISSN - 2256-0386

DOI - 10.7250/eb.2014.016

Subject(s) - distributed lag , economics , causality (physics) , autoregressive model , per capita , econometrics , short run , time series , lag , granger causality , macroeconomics , cointegration , mathematics , computer science , statistics , computer network , population , physics , demography , quantum mechanics , sociology

This study analyses the implications of the structure of financial system on country’s economic development. The aim of the paper is to analyse short-run and long-run causality between the structure of financial system and economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature; analysis of statistical data; time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results indicate positive short and long term very weak effect of financial system’s shift from bank-based to market-based on GDP per capita.

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