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:: Volume 18, Issue 56 (Winter 2011) ::
qjerp 2011, 18(56): 73-64 Back to browse issues page
The Relationship Between Financial Development and Economic Growth In Iran: Using Factor Analysis Method
Mohammad Hasan Fotros * , Abolfazl Najarzadeh , Hossein Mahmoodi
, fotros@basu.ac.ir
Abstract:   (23885 Views)
This paper investigates the long run relationship between financial development and economic growth since 1340 to 1385. Firstly, we study diverse instruments of Iranian financial system. Then, we define 8 indices extracted from banking system to represent indicator of financial development. Furthermore, we transform the indexes of financial development into a unique and comprehensive index by using factor analysis method. We estimate relationship between these variables an assess causality relationship by means of Granger Causality Test. Our findings show: (a) there is a direct relationship between financial development and economic growth in Iran and (b) the direction of causality is from economic growth to financial development.
Keywords: Financial Development, Economic Growth, Endogenous Growth Models, Factor Analysis Method, Banking System of Iran
Full-Text [PDF 391 kb]   (7646 Downloads)    
Type of Study: Research | Subject: General
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Fotros M H, Najarzadeh A, Mahmoodi H. The Relationship Between Financial Development and Economic Growth In Iran: Using Factor Analysis Method. qjerp 2011; 18 (56) :73-64
URL: http://qjerp.ir/article-1-224-en.html


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Creative Commons License This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Volume 18, Issue 56 (Winter 2011) Back to browse issues page
فصلنامه پژوهشها و سیاستهای اقتصادی Journal of Economic Research and Policies
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