A COMPARATIVE SURVEY OF FINANCIAL DEVELOPMENT EFFECT ON ECONOMIC GROWTH AT ASYMMETRIC INFORMATION SITUATION (CASE STUDY OF SELECTED DEVELOPED AND DEVELOPING COUNTRIES)

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SAMETI MORTEZA; RANJBAR HOMAYOUN; HEMATZADEH MONIREH

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Journal: JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH Year:2013 | Volume:3 | Issue:9 Page(s): 25-40

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Title

A COMPARATIVE SURVEY OF FINANCIAL DEVELOPMENT EFFECT ON ECONOMIC GROWTH AT ASYMMETRIC INFORMATION SITUATION (CASE STUDY OF SELECTED DEVELOPED AND DEVELOPING COUNTRIES)

Author(s)

SAMETI MORTEZA | RANJBAR HOMAYOUN | HEMATZADEH MONIREH | Issue Writer Certificate

Keywords

FINANCIAL DEVELOPMENTQ2

ECONOMIC GROWTHQ2

ASYMMETRIC INFORMATIONQ2

PANEL DATA METHODQ2

Abstract

This study seeks to investigate the relationship between the development of financial sector and real sector in an economy under the ASYMMETRIC INFORMATION because true growth is conditioned to the development of the financial structure, so that, countries with more developed financial sector, enjoy a higher rate of growth than the other countries. In this study the ECONOMIC GROWTH criterion denotes the development of the real sector, and variables such as ratio of the value of the stock exchange to GDP has been introduced as a criterion of development of financial sector. Also, logarithm of variance of the stock exchange price index and bank credits of the private sector index have been applied as a criterion of ASYMMETRIC INFORMATION in the fiscal and money market. This model is estimated by applying PANEL DATA METHOD for selected developed and developing countries in 1993-2008. The results depict the higher effectiveness level of financial market in comparison with money market in the developed countries, also financial structure of the developed countries differs from the developing ones because of a high level and evolved information symmetry in the developed countries, while in the developing countries, the money market is stronger than the stock exchange.

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APA: Copy

SAMETI, MORTEZA, RANJBAR, HOMAYOUN, & HEMATZADEH, MONIREH. (2013). A COMPARATIVE SURVEY OF FINANCIAL DEVELOPMENT EFFECT ON ECONOMIC GROWTH AT ASYMMETRIC INFORMATION SITUATION (CASE STUDY OF SELECTED DEVELOPED AND DEVELOPING COUNTRIES). JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH, 3(9), 25-40. SID. https://sid.ir/paper/192291/en

Vancouver: Copy

SAMETI MORTEZA, RANJBAR HOMAYOUN, HEMATZADEH MONIREH. A COMPARATIVE SURVEY OF FINANCIAL DEVELOPMENT EFFECT ON ECONOMIC GROWTH AT ASYMMETRIC INFORMATION SITUATION (CASE STUDY OF SELECTED DEVELOPED AND DEVELOPING COUNTRIES). JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH[Internet]. 2013;3(9):25-40. Available from: https://sid.ir/paper/192291/en

IEEE: Copy

MORTEZA SAMETI, HOMAYOUN RANJBAR, and MONIREH HEMATZADEH, “A COMPARATIVE SURVEY OF FINANCIAL DEVELOPMENT EFFECT ON ECONOMIC GROWTH AT ASYMMETRIC INFORMATION SITUATION (CASE STUDY OF SELECTED DEVELOPED AND DEVELOPING COUNTRIES),” JOURNAL OF ECONOMIC GROWTH AND DEVELOPMENT RESEARCH, vol. 3, no. 9, pp. 25–40, 2013, [Online]. Available: https://sid.ir/paper/192291/en

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