학술저널
Financial Inclusion and Per Capita Real GSP Growth across Fifty US States and the District of Columbia: Evidences from Panel Cointegration and GMM Estimates
- People & Global Business Association
- Global Business and Finance Review
- Vol.20 No.1
-
2015.0687 - 94 (8 pages)
- 38
This paper explores the effects of bank-based financial inclusion on per capita real GSP (Gross State Product) growth across all fifty U.S. states and the District of Columbia (DC) using panel data over 1997-2013. Estimates of Pedroni s panel vector error-correction model and GMM dynamic panel estimates reveal that increases in outstanding bank credit and bank-branch expansion exert significantly positive effects on per capita real GSP growth. Furthermore, rises in the number of other financial institutions and deposit mobilization by banks have subdued net positive effects on per capita real GSP growth.
Ⅰ. Introduction
Ⅱ. Brief Review of Related Literature
Ⅲ. Empirical Methodology
Ⅳ. Results
V. Conclusions and Brief Policy Implications
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