TY - JOUR
T1 - The causal interaction between financial development and human development in Bangladesh
AU - Hatemi-J, Abdulnasser
AU - Shamsuddin, Mrittika
N1 - Publisher Copyright:
© 2016 Taylor & Francis.
PY - 2016/9/21
Y1 - 2016/9/21
N2 - This note investigates the causal relationship between financial development measured as the domestic credit to private sector (% of GDP) and human development measured by the Barro–Lee index in Bangladesh. The bootstrap causality tests with leverage adjustments are implemented in order to avoid any distributional assumption. It is found that human development is causing financial development. However, there is no significant causality running from financial development on human development. The policy implication of these empirical findings is also elaborated.
AB - This note investigates the causal relationship between financial development measured as the domestic credit to private sector (% of GDP) and human development measured by the Barro–Lee index in Bangladesh. The bootstrap causality tests with leverage adjustments are implemented in order to avoid any distributional assumption. It is found that human development is causing financial development. However, there is no significant causality running from financial development on human development. The policy implication of these empirical findings is also elaborated.
KW - Bangladesh
KW - Human development
KW - bootstrap simulations
KW - financial development
UR - http://www.scopus.com/inward/record.url?scp=84953257323&partnerID=8YFLogxK
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U2 - 10.1080/13504851.2015.1128066
DO - 10.1080/13504851.2015.1128066
M3 - Article
AN - SCOPUS:84953257323
SN - 1350-4851
VL - 23
SP - 995
EP - 998
JO - Applied Economics Letters
JF - Applied Economics Letters
IS - 14
ER -