Bank credit and economic growth:a dynamic panel data analysis

Leitão, Nuno Carlos

http://hdl.handle.net/10400.15/761

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Authors

Leitão, Nuno Carlos

Abstract(s)

This study examines the link between bank lending and economic growth for European Union (EU-27) for the period 1990 to 2010. We apply a dynamic panel data (GMM-system estimator). This estimator permits to solve the problems of serial correlation, heteroskedasticity and endogeneity for some explanatory variables. As the results show, savings promotes growth. The inflation and bank credit have a negative impact on economic growth as previous studies.