Financial management and economic growth:the european countries experience

• Author(s): Leitão, Nuno Carlos
• Date: 2013
• Persistent ID: http://hdl.handle.net/10400.15/798
• Origin: Repositório Científico do Instituto Politécnico de Santarém
• Subject(s): Financial development; Panel data; European Countries
• Document Type: Article
• Language: English

Description

The purpose of this research is to investigate the impact of financial development on economic growth applied to European Countries. The initial GDP per capita is negatively correlated with growth of real GDP per capita. Our study shows that there isconvergence within European Countries for the period 1990-2009. This paper confirms relevant theoretical hypothesis as international trade and saving enc ourage the economic growth. The inflation has a negative impact on economic growth as previous studies.