Title: Role of trade openness and financial development in economic growth: panel evidence from South Asia
Author: Nilotpal Goswami
Address: Office of the Accountant General, Gorton Castle Building, The Mall, Shimla-171003, Himachal Pradesh, India
Abstract: The dynamic impact of financial development and trade openness on economic growth is examined for five major South Asia countries over the period 1985-2010 in the panel co-integration and causality framework. The results reveal the existence of long-run relationship between economic growth, trade openness and financial development. Further, trade openness and financial development play an important and significant role for economic growth in South Asian countries. This analysis shows that there is bidirectional causality between economic growth, trade openness and financial development.
Keywords: economic growth; trade openness; financial development; panel data analysis; South Asia.
Int. J. of Trade and Global Markets, 2013 Vol.6, No.3, pp.301 - 322
Submission date: 16 Apr 2012
Date of acceptance: 02 Nov 2012
Available online: 21 May 2013