{"id":"https://openalex.org/W2073873644","doi":"https://doi.org/10.1080/00036840500427239","title":"The effect of financial development on economic growth: evidence from the APEC countries, 1981\u20132000","display_name":"The effect of financial development on economic growth: evidence from the APEC countries, 1981\u20132000","publication_year":2006,"publication_date":"2006-09-10","ids":{"openalex":"https://openalex.org/W2073873644","doi":"https://doi.org/10.1080/00036840500427239","mag":"2073873644"},"language":"en","primary_location":{"id":"doi:10.1080/00036840500427239","doi":"https://doi.org/10.1080/00036840500427239","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00036840500427239","pdf_url":null,"source":{"id":"https://openalex.org/S201533460","display_name":"Applied Economics","issn_l":"0003-6846","issn":["0003-6846","1466-4283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5090965508","display_name":"Donny Tang","orcid":"https://orcid.org/0009-0002-9617-8235","observed_orcids":["https://orcid.org/0009-0002-9617-8235"]},"institutions":[{"id":"https://openalex.org/I141568987","display_name":"Hong Kong Baptist University","ror":"https://ror.org/0145fw131","country_code":"HK","type":"education","lineage":["https://openalex.org/I141568987"]}],"countries":["HK"],"is_corresponding":true,"raw_author_name":"Donny Tang","raw_affiliation_strings":["Department of Economics, HKBU, Hong Kong E-mail: donctang@fastmail.ca"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics, HKBU, Hong Kong E-mail: donctang@fastmail.ca","institution_ids":["https://openalex.org/I141568987"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5090965508"],"corresponding_institution_ids":["https://openalex.org/I141568987"],"apc_list":null,"apc_paid":null,"fwci":4.6724,"has_fulltext":false,"cited_by_count":56,"citation_normalized_percentile":{"value":0.95058481,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":88,"max":99},"biblio":{"volume":"38","issue":"16","first_page":"1889","last_page":"1904"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9897000193595886,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9897000193595886,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.0035000001080334187,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.001500000013038516,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-development","display_name":"financial development","score":1.0},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":1.0},{"id":"https://openalex.org/keywords/stock-market-development","display_name":"stock market development","score":0.8240000009536743},{"id":"https://openalex.org/keywords/banking","display_name":"banking sector","score":0.9760000109672546},{"id":"https://openalex.org/keywords/capital-flows","display_name":"capital flows","score":0.9399999976158142},{"id":"https://openalex.org/keywords/finance-growth-relationship","display_name":"finance-growth relationship","score":0.765999972820282},{"id":"https://openalex.org/keywords/apec-countries","display_name":"APEC countries","score":0.7639999985694885},{"id":"https://openalex.org/keywords/developed-and-developing-countries","display_name":"developed and developing countries","score":0.7850000262260437},{"id":"https://openalex.org/keywords/financial-infrastructure","display_name":"financial infrastructure","score":0.6600000262260437}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7238553762435913},{"id":"https://openalex.org/C2777747085","wikidata":"https://www.wikidata.org/wiki/Q5449743","display_name":"Financial sector development","level":3,"score":0.6820943355560303},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5978268384933472},{"id":"https://openalex.org/C91317487","wikidata":"https://www.wikidata.org/wiki/Q1530412","display_name":"Simultaneity","level":2,"score":0.530731737613678},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.4974265396595001},{"id":"https://openalex.org/C83864248","wikidata":"https://www.wikidata.org/wiki/Q177323","display_name":"Developing country","level":2,"score":0.48213693499565125},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4721935987472534},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.37650448083877563},{"id":"https://openalex.org/C2986840890","wikidata":"https://www.wikidata.org/wiki/Q837171","display_name":"Financial sector","level":2,"score":0.3565131723880768},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.33918288350105286},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.32188329100608826},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.31888192892074585},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.16353464126586914},{"id":"https://openalex.org/C74650414","wikidata":"https://www.wikidata.org/wiki/Q11397","display_name":"Classical mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1080/00036840500427239","doi":"https://doi.org/10.1080/00036840500427239","is_oa":false,"landing_page_url":"https://doi.org/10.1080/00036840500427239","pdf_url":null,"source":{"id":"https://openalex.org/S201533460","display_name":"Applied Economics","issn_l":"0003-6846","issn":["0003-6846","1466-4283"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","norway-1","poland-40","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320547","host_organization_name":"Taylor & Francis","host_organization_lineage":["https://openalex.org/P4310320547","https://openalex.org/P4310320449"],"host_organization_lineage_names":["Taylor & Francis","Informa"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Applied Economics","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:taf:applec:v:38:y:2006:i:16:p:1889-1904","doi":null,"is_oa":false,"landing_page_url":"http://www.tandfonline.com/doi/abs/10.1080/00036840500427239","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"display_name":"Decent work and economic growth","score":0.5263000130653381,"id":"https://metadata.un.org/sdg/8"}],"sustainable_development_goals_aurora":[{"display_name":"Partnerships for the goals","score":0.5199999809265137,"id":"https://metadata.un.org/sdg/17"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":38,"referenced_works":["https://openalex.org/W1513281941","https://openalex.org/W1563599281","https://openalex.org/W1602857815","https://openalex.org/W1606377008","https://openalex.org/W1985289044","https://openalex.org/W1986706576","https://openalex.org/W2005004459","https://openalex.org/W2011474190","https://openalex.org/W2013858579","https://openalex.org/W2055333795","https://openalex.org/W2063730222","https://openalex.org/W2067895740","https://openalex.org/W2077358653","https://openalex.org/W2078556006","https://openalex.org/W2095701068","https://openalex.org/W2111697693","https://openalex.org/W2123793003","https://openalex.org/W2123985991","https://openalex.org/W2125908202","https://openalex.org/W2130136629","https://openalex.org/W2130555915","https://openalex.org/W2131282092","https://openalex.org/W2134680442","https://openalex.org/W2148904467","https://openalex.org/W2169030761","https://openalex.org/W3024113314","https://openalex.org/W3093817887","https://openalex.org/W3121294328","https://openalex.org/W3121759882","https://openalex.org/W3121972958","https://openalex.org/W3122398539","https://openalex.org/W3122790390","https://openalex.org/W3122812532","https://openalex.org/W3123965305","https://openalex.org/W3124223798","https://openalex.org/W3124803532","https://openalex.org/W3125147766","https://openalex.org/W4299846046"],"related_works":["https://openalex.org/W3143578677","https://openalex.org/W4383115287","https://openalex.org/W3203209265","https://openalex.org/W1570092673","https://openalex.org/W7099195935","https://openalex.org/W2021064702","https://openalex.org/W2057640361","https://openalex.org/W1686928367","https://openalex.org/W3159422553","https://openalex.org/W2896431911"],"abstract_inverted_index":{"Using":[0],"the":[1,16,29,49,52,58,68,73,83,97,108,116],"modified":[2],"growth":[3,14],"model,":[4],"this":[5,122],"study":[6],"examines":[7],"whether":[8],"financial":[9,35,70,111],"development":[10,36,76,113],"would":[11],"facilitate":[12],"economic":[13],"among":[15,67,82],"Asia-Pacific":[17],"Economic":[18],"Cooperation":[19],"(APEC)":[20],"countries":[21],"from":[22],"1981":[23],"to":[24,105],"2000.":[25],"It":[26],"focuses":[27],"on":[28,37],"effects":[30],"of":[31,34,110],"three":[32,69],"aspects":[33],"growth:":[38],"stock":[39,74],"market,":[40],"banking":[41],"sector":[42],"and":[43,60],"capital":[44],"flow.":[45],"To":[46],"control":[47],"for":[48,57,96],"country-specific":[50],"effect,":[51,80],"model":[53],"is":[54,102],"further":[55],"estimated":[56],"developed":[59,84],"developing":[61],"member":[62,85],"countries.":[63,86],"Results":[64],"suggest":[65,106],"that":[66,107],"sectors,":[71],"only":[72],"market":[75],"shows":[77],"strong":[78],"growth-enhancing":[79],"especially":[81],"This":[87],"positive":[88],"relationship":[89,119],"remains":[90],"very":[91],"robust":[92],"even":[93],"after":[94],"controlling":[95],"simultaneity":[98],"bias.":[99],"Thus,":[100],"there":[101],"no":[103],"evidence":[104],"level":[109],"infrastructure":[112],"does":[114],"affect":[115],"overall":[117],"finance\u2013growth":[118],"observed":[120],"in":[121],"study.":[123]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2023,"cited_by_count":4},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":1},{"year":2017,"cited_by_count":6},{"year":2016,"cited_by_count":2},{"year":2015,"cited_by_count":3},{"year":2014,"cited_by_count":8},{"year":2013,"cited_by_count":5},{"year":2012,"cited_by_count":1}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}