Financial Innovation, Stock Market Development, and Economic Growth: An Application of ARDL Model
作者： Md. Qamruzzaman , Jianguo Wei
DOI: 10.3390/IJFS6030069
关键词:
摘要: This study aims to explore the relationship between economic growth, financial innovation, and stock market development of Bangladesh for period 1980–2016. To investigate long-run cointegration, this used autoregressive distributed lagged (ARDL) bounds testing approach. In addition, Granger-causality test is identify directional causality research variables under error correction term. Study findings from ARDL bound approach confirm existence a association development, growth. Furthermore, support bidirectional growth both in long run short run. These theory that market-based innovation system can spur development.
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