Investigating the Causal Relationship between Transportation Infrastructure, Financial Penetration and Economic Growth in G-20 Countries

This study examined the interactions between transportation infrastructure, financial penetration, and economic growth in the G-20 countries from 1961 to 2016. The aim was to investigate whether temporal causality exists between the variables. Using the panel vector error-correction model, the authors determined the long-run and short-run links between the variables. The study’s most robust finding is that both financial penetration and transportation infrastructure stimulate economic growth in the long run. Short-run results, on the other hand, were non-uniform and depended on the specific measure of financial penetration and transportation infrastructure utilized.


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  • Accession Number: 01723889
  • Record Type: Publication
  • Files: TRIS
  • Created Date: Nov 27 2019 4:28PM