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http://dx.doi.org/10.5392/JKCA.2014.14.04.346

Relationship between Financial Development and Growth: Focusing on the Effect of Industry Dependence on External Finance and Industry Growth Opportunities  

Hwang, Yoon-Jin (강릉원주대학교 경제학과)
Publication Information
The Journal of the Korea Contents Association / v.14, no.4, 2014 , pp. 346-354 More about this Journal
Abstract
This study aims to analyze the effects of economic development on financial development associated in industry dependence on external finance or industry growth opportunities. The macro and microeconomic empirical results are as follows: (1) financial development play an important role in economic development, (2) especially, financial development related in industry growth opportunities is the critical and important factor in industrial development, (3) the relationships between industry dependence on external finance and industrial development are different depending on the model or the analysis period. These results mean following. First, Leading financial strategy preparation need for industrial development. Second, It is important the effort to catch well-timed industry growth opportunities.
Keywords
Financial Development; Growth; Industry Dependence on External Finance; Growth Opportunities;
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