Nexus between financial innovation and economic growth in South Asia: evidence from ARDL and nonlinear ARDL approaches

作     者：Md.Qamruzzaman Wei Jianguo 

作者机构：School of economicsWuhan University of TechnologyWuhanChina School of Business and EconomicsUnited International UniversityDhakaBangladesh 

出 版 物：《Financial Innovation》 (金融创新（英文）)

年 卷 期：2018年第4卷第1期

页      面：292-310页

核心收录：

学科分类：0202[经济学-应用经济学] 02[经济学] 

基　　金：We do not receive any financial assistance from any agency.All the cost associated with preparing article bear by authors solely 

主　　题：Financial innovation Economic growth ARDL NARDL JEL O52 C21 

摘      要：This study examined the relationship between financial innovation and economic growth in Bangladesh,India,Pakistan,and Sri Lanka for the period Q11975 to *** autoregressive distributed lag(ARDL)bounds test was used to gauge long-run relationships,and the nonlinear ARDL(NARDL)test was used to explore asymmetry between financial innovation and economic growth in the sample of Asian *** findings from the bounds tests revealed long-run cointegration between financial innovation and economic growth in the sample ***,NARDL confirmed that positive changes in financial innovation linked positively with economic growth and vice versa in the long *** the short run,however,the study found mixed behaviors in the case of positive and negative changes in financial *** investigate directional causality,the Granger causality test under an error correction model was *** Granger causality results supported the feedback hypothesis in both the long run and short ***,financial innovation boosts economic growth in the long run by stimulating financial service expansion,financial efficiency,capital accumulation,and efficient financial intermediation,which are essential for sustainable economic growth.