Journal
ECONOMIC MODELLING
Volume 36, Issue -, Pages 405-412Publisher
ELSEVIER
DOI: 10.1016/j.econmod.2013.09.049
Keywords
Financial development; Economic growth; Poverty
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This paper contributes to the literature by investigating the relationship between financial development, economic growth and poverty reduction in Bangladesh using quarter frequency data over the period of 1975-2011. This issue is of importance for developing economics given the role of financial sector in mobilizing and allocating savings into productive investments. We use an innovative empirical approach based on ARDL cointegration with structural breaks. Our findings show that a long-run relationship between financial development, economic growth and poverty reduction exists in Bangladesh. Financial development helps to reduce poverty, but its effect is not linear. (C) 2013 Elsevier B.V. All rights reserved.
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