Abstract
This paper examines the causal relationship between financial development and economic growth in India for the period 1970-1971 to 1998-1999, using the techniques of unit root and cointegration analysis. The results show that, for the period under consideration, it is M3, representing financial sector development, which led GDP and not the other way around.
| Original language | English |
|---|---|
| Pages (from-to) | 905-909 |
| Number of pages | 5 |
| Journal | Applied Financial Economics |
| Volume | 13 |
| Issue number | 12 |
| DOIs | |
| Publication status | Published - Dec 2003 |
UN SDGs
This output contributes to the following UN Sustainable Development Goals (SDGs)
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SDG 8 Decent Work and Economic Growth
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