International capital movements, Financial depth and Economic growth in Taiwan
碩士 === 淡江大學 === 國際商學碩士在職專班 === 97 === This article empirically examines the effects of international capital movements and financial depth on the economic growth in Taiwan using seasonal data covering the period from 1981 to 2005. Our estimation have shown that financial depth does not lead to stabl...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2009
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| Online Access: | http://ndltd.ncl.edu.tw/handle/73476574543064624533 |
| Summary: | 碩士 === 淡江大學 === 國際商學碩士在職專班 === 97 === This article empirically examines the effects of international capital movements and financial depth on the economic growth in Taiwan using seasonal data covering the period from 1981 to 2005. Our estimation have shown that financial depth does not lead to stable effects on the economic growth. It affected the economy negatively in the first season immediately after the shock, positively for the next two seasons and turned negative in the fourth season, implying that a continuous deepening is required for persistent economic growth. The major contribution of opening international capital account to Taiwan’s economic growth arises from the opening of debt securities investment. In addition, allowing for equity investment by foreigners does not generate significant effect on Taiwan’s economic growth.
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