No: WP-2019-031
AUTHOR: Taniya Ghosh, Prashant Mehul Parab, Sohini Sahu
TITLE: Analyzing the importance of Forward Orientation in Financial Development-Growth Nexus: Evidence from Big Data
Abstract: The paper analyzes how the citizens’ attitude towards future, obtained using big data, affects the relationship between the nation’s financial development and economic growth. All financial development indicators, except for one, show significant negative growth effects. We find that individual’s attitude towards future as captured by future orientation index (FOI) plays a significant role in affecting this relation. In particular, FOI interacts with financial development, and weakens the negative effect of financial development on nation’s economic growth
Keywords: Developing countries; Developed countries; Economic growth; Financial Development; Future Orientation Index
JEL Code: E71, G2, O16, O47
Weblink: http://www.igidr.ac.in/pdf/publication/WP-2019-031.pdf
