FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN EASTERN EUROPE
FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN EASTERN EUROPE
Author(s): Dan LupuSubject(s): Recent History (1900 till today), Economic policy, International relations/trade, Economic development, Financial Markets, Accounting - Business Administration
Published by: Editura Tehnopress
Keywords: Financial development; economic growth; Markov Switching regression;
Summary/Abstract: This article analyzes for two countries in Eastern Europe, Romania and Bulgaria, the impact of financial development on economic growth, for the period 1993-2019. The methodology used is Markov Switching model and the results show that financial development influences at all times, low and growth, economic growth. However, there are differences between the two countries: for Bulgaria, the regimes and amplitudes are lower, while for Romania they are higher.
Journal: Journal of Public Administration, Finance and Law
- Issue Year: 2019
- Issue No: 16
- Page Range: 157-165
- Page Count: 9
- Language: English