Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/14429
Title: Institutional investors, financial sector development and economic growth
Authors: KUHAN HARICHANDRA
Keywords: Institutional Investors, Financial Sector Development, Economic Growth, Granger Causality
Issue Date: 11-Dec-2004
Source: KUHAN HARICHANDRA (2004-12-11). Institutional investors, financial sector development and economic growth. ScholarBank@NUS Repository.
Abstract: Institutional investors have increasingly become an important agent in the financial system of an economy. Institutional investors consisting of pension funds, investment companies (open-end and close-end mutual funds) and insurance companies (life and non-life insurance companies) tend to play an important role in the overall development of both the financial and non-financial sectors in the economy. It is our aim to empirically study the role of these institutional investors on the development of the financial sector and economic growth in OECD countries by employing a dynamic panel VAR framework. While pervious studies in this area have mainly focused on contractual savings institutions of pension funds and insurance companies, we provide a consistent analysis of institutional investors that includes pension funds, insurance companies, and investment companies both at the aggregated and disaggregated levels. The findings would provide invaluable policy prescriptions to the development of the financial sector in both developed and emerging economies.
URI: http://scholarbank.nus.edu.sg/handle/10635/14429
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