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Financial Management and Economic Growth: The European Countries Experience

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Author(s): Nuno Carlos LEITÃO

Journal: Economia : Seria Management
ISSN 1454-0320

Volume: 15;
Issue: 2;
Start page: 261;
Date: 2012;
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Keywords: European Countries | Financial development | Panel data

ABSTRACT
The purpose of this research is to investigate the impact of financial development on economic growth applied to European Countries. The initial GDP per capita is negatively correlated with growth of real GDP per capita. Our study shows that there is convergence within European Countries for the period 1990-2009. This paper confirms relevant theoretical hypothesis as international trade and saving encourage the economic growth. The inflation has a negative impact on economic growth as previous studies.
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