Finance and economic growth : The case of Sweden 1834-1991
(1997) In Research in Economics 51(3). p.275-301- Abstract
- This study examines the long-run relationship between finance and economic growth in Sweden from the 1830s to the 1990s using recently developed econometric techniques for tests of cointegration. The role of investment, education and technological progress (patents) is accounted for as well in order to assess the relative importance of the development of the financial system for growth performance. A fairly unique set of long-run data is employed. To our knowledge, no tests of this kind have been reported previously, at least not for the European experience. The empirical work suggests that there has been a pattern of interaction among the variables examined. The estimated contribution of the financial system to economic growth is shown to... (More)
- This study examines the long-run relationship between finance and economic growth in Sweden from the 1830s to the 1990s using recently developed econometric techniques for tests of cointegration. The role of investment, education and technological progress (patents) is accounted for as well in order to assess the relative importance of the development of the financial system for growth performance. A fairly unique set of long-run data is employed. To our knowledge, no tests of this kind have been reported previously, at least not for the European experience. The empirical work suggests that there has been a pattern of interaction among the variables examined. The estimated contribution of the financial system to economic growth is shown to depend crucially on the time period studied and the variables included in the analysis. (Less)
- Abstract (Swedish)
- This study examines the long-run relationship between finance and economic growth in Sweden from the 1830s until the 1990s using recently developed econometric techniques for tests of cointegration. The role of investment, education and technological progress (patents) is accounted for as well in order to assess the relative importance of the development of the financial system for growth performance. A fairly unique set of long-run data is employed. To our knowledge, no tests of this kind have been reported previously, at least not for the European experience. The estimated contribution of the financial system to economic growth is shown to depend crucially on the time period studied and the variables included in the analysis.
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/9ca11a8d-ee22-44c7-b5ef-3f9c710a9873
- author
- Hansson, Pontus LU and Jonung, Lars LU
- organization
- publishing date
- 1997-09
- type
- Contribution to journal
- publication status
- published
- subject
- keywords
- financial development, economic growth, cointegration, Sweden
- in
- Research in Economics
- volume
- 51
- issue
- 3
- pages
- 27 pages
- publisher
- Academic Press
- external identifiers
-
- scopus:0031232375
- ISSN
- 1090-9443
- DOI
- 10.1006/reec.1997.0046
- language
- English
- LU publication?
- yes
- additional info
- Cited By :9 Export Date: 22 February 2017
- id
- 9ca11a8d-ee22-44c7-b5ef-3f9c710a9873
- date added to LUP
- 2016-06-20 15:52:46
- date last changed
- 2022-04-01 00:50:56
@article{9ca11a8d-ee22-44c7-b5ef-3f9c710a9873,
abstract = {{This study examines the long-run relationship between finance and economic growth in Sweden from the 1830s to the 1990s using recently developed econometric techniques for tests of cointegration. The role of investment, education and technological progress (patents) is accounted for as well in order to assess the relative importance of the development of the financial system for growth performance. A fairly unique set of long-run data is employed. To our knowledge, no tests of this kind have been reported previously, at least not for the European experience. The empirical work suggests that there has been a pattern of interaction among the variables examined. The estimated contribution of the financial system to economic growth is shown to depend crucially on the time period studied and the variables included in the analysis.}},
author = {{Hansson, Pontus and Jonung, Lars}},
issn = {{1090-9443}},
keywords = {{financial development; economic growth; cointegration; Sweden}},
language = {{eng}},
number = {{3}},
pages = {{275--301}},
publisher = {{Academic Press}},
series = {{Research in Economics}},
title = {{Finance and economic growth : The case of Sweden 1834-1991}},
url = {{http://dx.doi.org/10.1006/reec.1997.0046}},
doi = {{10.1006/reec.1997.0046}},
volume = {{51}},
year = {{1997}},
}