Document Type : Original Article
Author
Assistant Professor of Economics, Department of Economics, Faculty of Humanities & Social Sciences, University of Kurdistan, Sanandaj, Iran
https://doi.org/10.34785/J025.2022.025
Abstract
Investigating the effect of financial structure on economic growth is one of the important topics in economic literature. So far, there is no consensus on the effect of financial structure on economic growth despite extensive research. In this research, the effect of financial structure on economic growth by different provinces of Iran has been investigated using the generalized moment method (GMM) during the period of 1400-1380. Based on the obtained results, in the rich provinces, the financial structure is based on the market, and the less rich and deprived regions have a bank-based financial structure. Also, there is a significant relationship between financial structure, GDP per capita, physical capital stock, government spending, human capital, trade openness and there is a positive effect on economic growth. Based on the obtained results, the effect of the financial structure on economic growth changes in different stages of economic development, and financial development has a negative effect on economic growth. And it may be in different time periods and levels of financial structure, it confirms.
Keywords
Main Subjects
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