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Results and Discussion 2

Results and Discussion 2

Copyright: © 2014 |Pages: 46
ISBN13: 9781466660182|ISBN10: 146666018X|EISBN13: 9781466660199
DOI: 10.4018/978-1-4666-6018-2.ch008
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MLA

Taha Chaiechi. "Results and Discussion 2." Post-Keynesian Empirical Research and the Debate on Financial Market Development, IGI Global, 2014, pp.180-225. https://doi.org/10.4018/978-1-4666-6018-2.ch008

APA

T. Chaiechi (2014). Results and Discussion 2. IGI Global. https://doi.org/10.4018/978-1-4666-6018-2.ch008

Chicago

Taha Chaiechi. "Results and Discussion 2." In Post-Keynesian Empirical Research and the Debate on Financial Market Development. Hershey, PA: IGI Global, 2014. https://doi.org/10.4018/978-1-4666-6018-2.ch008

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Abstract

The empirical analysis of this chapter provides insights into the functioning of the economies of three selected countries. Later in the chapter, the dynamic responses of the model to shocks in indicators of financial development are investigated. To obtain credible impulse response analysis, economic theory is used to set the required identifying restrictions instead of using an “unrestricted” vector autoregressive model. The structural form of the model then is summarised in the chapter by the variance decomposition and impulse response functions. The general results from impulse response functions advocate the theory of financial intermediation arguing that the development of the financial market helps to promote economic growth. Furthermore, the results of variance decomposition shows that different measures of financial development influence the variation of growth variables, particularly investment, savings, and productivity growth.

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