Is the Financial-Led Growth Hypothesis Valid for Sri Lanka?-An ARDL Bounds Test Approach.

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dc.contributor.author Ravinthirakumaran, N.
dc.contributor.author Wimalaratana, W.
dc.contributor.author Ravinthirakumaran, K.
dc.date.accessioned 2024-01-19T05:27:19Z
dc.date.available 2024-01-19T05:27:19Z
dc.date.issued 2019-04-12
dc.identifier.citation Ravinthirakumaran, N.; Wimalaratana, W. and Ravinthirakumaran, K. (2019). Is the Financial-Led Growth Hypothesis Valid for Sri Lanka? – An ARDL Bounds Test Approach. IUP Journal of Applied Finance; 25 (2): 5-24. en_US
dc.identifier.uri http://drr.vau.ac.lk/handle/123456789/806
dc.description.abstract The financial-led growth hypothesis suggests that the financial development of a country plays a major role in its economic growth. Several channels through which financial development promotes growth in the economy include efficient allocation of capital, mobilization of savings through attractive instruments, lowering of the cost of the information gathering and presenting, among others. Financial development has been a muchdebated issue among economists and policy makers both in developed and developing countries, including Sri Lanka. This paper empirically examines the validity of the financial-led growth hypothesis in Sri Lanka using time series data from 1966 to 2016. The paper uses the Autoregressive Distributed Lag (ARDL) bounds testing for cointegration developed by Pesaran et al. (2001). The empirical results confirm the validity of the financial-led growth hypothesis for Sri Lanka. en_US
dc.language.iso en en_US
dc.publisher ProQuest en_US
dc.source.uri https://www.proquest.com/openview/60c412c2c112cb7f5c499c20de8f7800/1?pq-origsite=gscholar&cbl=54442 en_US
dc.subject Finance en_US
dc.subject Economic growth en_US
dc.subject ARDL bound test en_US
dc.title Is the Financial-Led Growth Hypothesis Valid for Sri Lanka?-An ARDL Bounds Test Approach. en_US
dc.type Article en_US
dc.identifier.journal IUP Journal of Applied Finance en_US


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