The Effects of Financial Development on Economic Growth in the European Union: A Panel Data Analysis

Authors

  • Kıvanç Halil ARIÇ Cumhuriyet University

Keywords:

financial development, economic growth, European Union, panel data

Abstract

In this study, panel data method was used in order to analyze the relationship between financial development and economic growth in European Union. The analysis contains the period between 2004 and 2012. While Domestic Credit to Private Sector as % of GDP affects growth negatively, Capitalization Ratio and Money and Quasi Money M2 as %of GDP affect growth positively. As dummy variable, it was determined that the year of 2009 had a huge negative impact on growth of European Union countries.

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Published

2014-07-01

How to Cite

ARIÇ, K. H. (2014). The Effects of Financial Development on Economic Growth in the European Union: A Panel Data Analysis. International Journal of Economic Practices and Theories, 4(4), 466-471. Retrieved from http://ijept.eu/index.php/ijept/article/view/The_Effects_of_Financial_Development_on_Economic_Growth_in_the

Issue

Vol. 4 No. 4 (2014)

Section

Articles

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