期刊論文

標題 Inflation and the finance-growth nexus
學年 98
學期 1
出版(發表)日期 2010/01/01
作品名稱 Inflation and the finance-growth nexus
作品名稱(其他語言)
著者 Huang, Ho-chuan; Lin, Shu-chin; Kim, Dong-Hyeon; Yeh, Chih-chuan
單位 淡江大學財務金融學系; 淡江大學經濟學系
出版者 Amsterdam: Elsevier BV * North-Holland
著錄名稱、卷期、頁數 Economic Modelling 27(1), pp.229-236
摘要 This paper re-investigates whether there exist inflation thresholds in the finance–growth linkage. By applying the Caner and Hansen's (2004) instrumental-variable threshold regression approach to the dataset of Levine et al. (2000), we find strong evidence of a nonlinear inflation threshold in the relationship, below which financial development exerts a significantly positive effect on economic growth, while, above which, the growth effect of finance appears to be insignificant. Furthermore, we also find a positive and significant relationship between finance and productivity for inflation rates below the threshold level, but no such relationship is detected for inflation rates above the critical level. This result suggests that finance influences growth mainly through the productivity channel.
關鍵字 Financial development; Economic growth; Threshold regression; Instrumental variable; Inflation
語言 英文
ISSN 0264-9993
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者 Huang, Ho-chuan
審稿制度
國別 荷蘭
公開徵稿
出版型式 紙本