• 제목/요약/키워드: Trend of Development

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Long-run Equilibrium Relationship Between Financial Intermediation and Economic Growth: Empirical Evidence from Philippines

  • MONSURA, Melcah Pascua;VILLARUZ, Roselyn Mostoles
    • The Journal of Asian Finance, Economics and Business
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    • 제8권5호
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    • pp.21-27
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    • 2021
  • The financial sector is one of the most important building blocks of the economy. When this sector efficiently implemented a well-crafted program on banking and financial system to translate financial activities to income-generating activity, economic growth will be realized. Hence, this study analyzed the effect of financial intermediation on economic growth and the existence of cointegrating relationship using time-series data from 1986 to 2015. The influence of financial intermediation in terms of bank credit to bank deposit ratio, private credit, and stock market capitalization and time trend to economic growth was estimated using ordinary least squares (OLS) multiple regression. The results showed that all the financial intermediation indicators and time trend exert significant effect on Gross Domestic Product (GDP) per capita. The positive sign of the time trend indicates that there is an upward trend in GDP per capita averaging approximately 0.06 percent annually. Furthermore, the cointegration test using the Johansen procedure revealed that there is a presence of long-term equilibrium relationship between financial intermediation and time trend and economic growth, and rules out spurious regression results. This study established the idea that financial intermediation in the Philippines has a significant and vital role in stimulating growth in the economy.

농어촌뉴타운조성사업의 특성 및 개선방안에 관한 연구 (The Study on Characteristics and Improvement of Rural New Town Development Project)

  • 한석종;주석중
    • 한국농촌건축학회논문집
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    • 제13권2호
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    • pp.39-46
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    • 2011
  • The agricultural population, the farming, the agriculture of our country has been decreased more rapidly than those of other countries. Also, the changing speed of the rural village in Korea has shown a similar trend. By considering the urbanization process and migration state caused by the economic growth and the increasing level of relative poverty in comparison with the urban area, it has been necessary to go through the impoverishment and slum-orientation of the rural area. In our country, the rural village became old age. So, the collapse is predicted to a population shortage if such trend is continued in the village society. according to investigate, Many urban peoples have opinion that migrates to a farm village. but those not migrate to rural community. The mainly reason is low life environment. therefore it is need the plan that the urban people migrates to a rural village, and must have the plan to be engaged in the agriculture. lt was the rural-fishing New Town development project that started in 2009 for 30~40 years's urban people. This study is about characteristic and improvement of Rural-Fishing New Town development project.