The impact of financial development on economic growth: Evidence from Vietnam
The impact of financial development on economic growth: Evidence from Vietnam
This paper investigates the effect of financial development to economic growth in Vietnam for the period 1990 – 2017. Using the Autoregressive Distributed Lag (ARDL) Bounds test approach, we find that financial development has a long-run positive impact on the growth of economic. Besides, the error correction model indicates that although there exists the disequilibrium in the relationship between financial development and economic growth in the short-run, the economy will converge back to the l