How to cite this paper
Nik, H., Nasab, Z., Salmani, Y & Shahriari, N. (2013). The relationship between financial development indicators and human capital in Iran.Management Science Letters , 3(4), 1261-1272.
Refrences
Afzal, M., Farooq, M.S., Ahmad, H.K., Begum, I., & Quddis, MA. (2010). Relationship between
school education and economic growth in Pakistan: ARDL Bounds testing approach to
cointegration. Pakistan Economic and Social Review, 48(1), 39-60.
Al- Yousif, Y.K. (2002). Financial development and economic growth another look at the evidence
from developing countries. Review of Financial Economics, 11, 131-150.
Anwar, S., & Cooray, A. (2012). Financial development, political rights, civil liberties and economic
growth: Evidence from South Asia. Economic Modelling, 29, 974-981.
Anwar, S., & Sun, S. (2011). Financial development, foreign investment and economic growth in
Malaysia. Journal of Asian Economics, 22, 335-342.
Barro, R.J., & Lee, J.W. (2001). International data on educational attainment: updates and
implications. Oxford Economic Papers, 53(3), 541-563.
Benhabib, J., & Spiegel, M.M. (1994). The role of human capital in economic development evidence
from aggregate cross-country data. Journal of Monetary Economics, 34(2), 143–173.
Birdsall, N., Pinckney, T., & Sabot, R. (2001). Natural resources, human capital, and growth. In R.
M. Auty(Ed.), Resource abundance and economic growth. Oxford: Oxford University Press.
Bittencourt, M. (2012). Financial development and economic growth in Latin America: Is
Schumpeter right?. Journal of Policy Modeling, 34, 341-355.
Chi, W. (2008). The role of human capital in china’s economic development: Review and new
evidence. China Economic Review, 19, 421-436.
Christopoulos, D.K., & Tsionas, E.G. (2004). Financial development and economic growth: evidence
from panel unit root and cointegration tests. Journal of Development Economics. 73, 55-74.
Colombage, S.R.N. (2009). Financial markets and economic performance: empirical evidence from
five industrialized economies. Research in International Business and Finance, 23, 339-348.
Deidda, L.G. (2006). Interaction between economic and financial development. Journal of Monetary
Economics, 53, 233-248.
Demetriades, P., & Hussein, K. (1996). Does financial development cause economic growth? Time
series evidence from 16 countries. Journal of Development Economics, 51, 387-411.
Dorrucci, E., Meyer-Cirkel, A., & Santabarbara, D. (2009). Domestic financial development in
emerging economies evidence and implications. Occasional Paper Series. No.102, European
Central Bank . http://ssrn.com/abstract_id=1325243.
Ferda, H. (2007). The financial development and economic growth nexus for Turkey. Online at
http://mpra.ub.uni-munchen. De/3566/MPRA Paper No. 3566, posted 07. November 2007/ 03:18.
Gelb, A.H. (1989), Financial policies, growth, and efficiency, Policy Planning, and Research
Working Papers, No. 202 (World Bank).
Graham, D. (1995). Learning to love the Dutch disease: Evidence from the mineral economies. World
Development, 23(10), 1765–1779.
Gregorio, J.D, & Guidotti, P.E. (1995). Financial development and economic growth. World
Development, 23(3), 433-448.
Gylfason, T. (2001). Natural resources, Education and economic development. European Economic
Review, 45(4-6), 847-859.
Kakar, Z.k., Khalij, b.A., & Khan, M.A. (2011). Relationship between Education and Economic
Growth in Pakistan: A time series analysis. Journal of International Academic Research, 11(1),
27-32.
Kar, M., Nazlioglu, S., & Agir, H. (2011). Financial development and economic growth nexus in the
MENA countries: Bootstrap panel granger causality analysis. Economic Modelling, 28, 685-693.
Kendall, j. (2012). Local financial development and growth. Journal of Banking & Finance, 36,
1548-1562.
Khan, M.A., & Qayyum, A. (2007). Trade, financial and growth in Pakistan: Economic Analysis
Working Papers 6(14), 1-25.
Khan, M.S., & Senhadji, A.S. (2003). Financial development and economic growth: a review and
new evidence. Journal of African Economics, 12(2), 89-110.
King, R.G., & Levine, R. (1993). Finance and growth. Quarterly Journal of Monetary Economics,
108(3), 717-737.
Kwiatkowski, D., Phillips, P.C.B., Schmidt, P., & Shin, Y. (1992). testing the null hypothesis of
stationary against the alternative of a unit root. Journal of Econometrics, 54, 159-178.
Levine, R. (1997). Financial development and economic growth: views and agenda. Journal of
Economic Literature. 35(2), 688-726.
Lucas, R. (1988). On the mechanics of economic development, Journal of Monetary Economics, 22,
3-42.
Mankiw, N.G., Romer, D., & Weil, D.N. (1992). A contribution to the empirics of economic growth.
The Quarterly Journal of Economics, 107(2), 407-437.
McKinnon, R.I. (1973). Money and capital in economic development. Washington DC: Brooking
Institution.
Noorbakhsh, F., Alberto, P., & Youssef, A. (2001). Human capital and FDI inflows to developing
countries: New empirical evidence. World Development, 29(9), 1593-1610.
Odhaimbo, N.M. (2009). Finance-growth-poverty nexus in South Africa: A dynamic causality
linkage. Journal of Socio-Economics, 38 (2), 320-325.
Oketch, M.O. (2006). Determinants of human capital formation and economic growth of African
countries. Economics of Education Review, 25, 554-564.
Pradhan, J., & Abraham, V. (2002). Does human development policy matter for economic growth?
Evidence from Indian states. South Asia Economic Journal, 3(1), 77-93.
Psacharopoulos, G. (1985). Returns to education: A further international update and implications.
Journal of Human Resources, 20, 583–604.
Psacharopoulos, G., & Woodhall, M. (1985). Education for development: An analysis of investment
choice. New York: OUP.
Ranis, G. (2004). Human development and economic growth. Center Discussion Paper NO. 887.
Ranis, G., Stewart, F., & Ramirez, A. (2000). Economic growth and human development. World
Development, 28(2), 197-219.
Romer, P.M. (1990). Human capital and growth: Theory and evidence. Carnegie – Rochester
Conference Series on Public Policy, 32, 251-286.
Schumpter, J.A. (1911). The theory of economic development. Harvard University Press, Cambridge
MA.
Shahbaz, M., Ahmed, N., & Ali, L. (2008). Stock market development and economic growth: ARDL
causality in Pakistan. International Research Journal of Finance and Economics, 14, 182-195.
Schwarz, G. (1978). Estimating the dimension of a model. Annals of Statistics, 6, 461-464.
Shaw, E.S. (1997). Financial deepening in economic growth. Oxford Univ. Press, NY.
Singh, T. (2007). Financial development and economic growth nexus: time series evidence from
India. Applied Economics, 1-13.
Suri, T., Boozer, M.A., Ranis, G., & Stewart, F. (2011). Paths to success: The relationship between
human development and economic growth. World Development, 39(4), 506-522.
Wang, Y., & Yao, Y. (2003). Sources of china’s economic growth 1952-1999: incorporating human
capital accumulation. China Economic Review, 14, 32-52.
Wayne Nafziger, E. (2006). Economic Development. Fourth Edition, Cambridge University Press.
World Bank, (2012). World Development Indicators- 2012. World bank, Washington D.C.
Zaman, k., Izhar, Z,. Mushtag Khan, M., & Ahmad, M. (2012). The relationship between financial
indicators and human development in Pakistan. Economic Modeling. 29, 1515-1523.
Zhang, C., & Zhuang, L. (2011). The composition of human capital and economic growth: Evidence
from China using dynamic panel data analysis. China Economic Review, 22, 165-171.
Zhang, J., Wang, L., & Wang, S. (2012). Financial development and economic growth: Recent
evidence from China. Journal of Comparative Economics, 40, 393-412.
school education and economic growth in Pakistan: ARDL Bounds testing approach to
cointegration. Pakistan Economic and Social Review, 48(1), 39-60.
Al- Yousif, Y.K. (2002). Financial development and economic growth another look at the evidence
from developing countries. Review of Financial Economics, 11, 131-150.
Anwar, S., & Cooray, A. (2012). Financial development, political rights, civil liberties and economic
growth: Evidence from South Asia. Economic Modelling, 29, 974-981.
Anwar, S., & Sun, S. (2011). Financial development, foreign investment and economic growth in
Malaysia. Journal of Asian Economics, 22, 335-342.
Barro, R.J., & Lee, J.W. (2001). International data on educational attainment: updates and
implications. Oxford Economic Papers, 53(3), 541-563.
Benhabib, J., & Spiegel, M.M. (1994). The role of human capital in economic development evidence
from aggregate cross-country data. Journal of Monetary Economics, 34(2), 143–173.
Birdsall, N., Pinckney, T., & Sabot, R. (2001). Natural resources, human capital, and growth. In R.
M. Auty(Ed.), Resource abundance and economic growth. Oxford: Oxford University Press.
Bittencourt, M. (2012). Financial development and economic growth in Latin America: Is
Schumpeter right?. Journal of Policy Modeling, 34, 341-355.
Chi, W. (2008). The role of human capital in china’s economic development: Review and new
evidence. China Economic Review, 19, 421-436.
Christopoulos, D.K., & Tsionas, E.G. (2004). Financial development and economic growth: evidence
from panel unit root and cointegration tests. Journal of Development Economics. 73, 55-74.
Colombage, S.R.N. (2009). Financial markets and economic performance: empirical evidence from
five industrialized economies. Research in International Business and Finance, 23, 339-348.
Deidda, L.G. (2006). Interaction between economic and financial development. Journal of Monetary
Economics, 53, 233-248.
Demetriades, P., & Hussein, K. (1996). Does financial development cause economic growth? Time
series evidence from 16 countries. Journal of Development Economics, 51, 387-411.
Dorrucci, E., Meyer-Cirkel, A., & Santabarbara, D. (2009). Domestic financial development in
emerging economies evidence and implications. Occasional Paper Series. No.102, European
Central Bank . http://ssrn.com/abstract_id=1325243.
Ferda, H. (2007). The financial development and economic growth nexus for Turkey. Online at
http://mpra.ub.uni-munchen. De/3566/MPRA Paper No. 3566, posted 07. November 2007/ 03:18.
Gelb, A.H. (1989), Financial policies, growth, and efficiency, Policy Planning, and Research
Working Papers, No. 202 (World Bank).
Graham, D. (1995). Learning to love the Dutch disease: Evidence from the mineral economies. World
Development, 23(10), 1765–1779.
Gregorio, J.D, & Guidotti, P.E. (1995). Financial development and economic growth. World
Development, 23(3), 433-448.
Gylfason, T. (2001). Natural resources, Education and economic development. European Economic
Review, 45(4-6), 847-859.
Kakar, Z.k., Khalij, b.A., & Khan, M.A. (2011). Relationship between Education and Economic
Growth in Pakistan: A time series analysis. Journal of International Academic Research, 11(1),
27-32.
Kar, M., Nazlioglu, S., & Agir, H. (2011). Financial development and economic growth nexus in the
MENA countries: Bootstrap panel granger causality analysis. Economic Modelling, 28, 685-693.
Kendall, j. (2012). Local financial development and growth. Journal of Banking & Finance, 36,
1548-1562.
Khan, M.A., & Qayyum, A. (2007). Trade, financial and growth in Pakistan: Economic Analysis
Working Papers 6(14), 1-25.
Khan, M.S., & Senhadji, A.S. (2003). Financial development and economic growth: a review and
new evidence. Journal of African Economics, 12(2), 89-110.
King, R.G., & Levine, R. (1993). Finance and growth. Quarterly Journal of Monetary Economics,
108(3), 717-737.
Kwiatkowski, D., Phillips, P.C.B., Schmidt, P., & Shin, Y. (1992). testing the null hypothesis of
stationary against the alternative of a unit root. Journal of Econometrics, 54, 159-178.
Levine, R. (1997). Financial development and economic growth: views and agenda. Journal of
Economic Literature. 35(2), 688-726.
Lucas, R. (1988). On the mechanics of economic development, Journal of Monetary Economics, 22,
3-42.
Mankiw, N.G., Romer, D., & Weil, D.N. (1992). A contribution to the empirics of economic growth.
The Quarterly Journal of Economics, 107(2), 407-437.
McKinnon, R.I. (1973). Money and capital in economic development. Washington DC: Brooking
Institution.
Noorbakhsh, F., Alberto, P., & Youssef, A. (2001). Human capital and FDI inflows to developing
countries: New empirical evidence. World Development, 29(9), 1593-1610.
Odhaimbo, N.M. (2009). Finance-growth-poverty nexus in South Africa: A dynamic causality
linkage. Journal of Socio-Economics, 38 (2), 320-325.
Oketch, M.O. (2006). Determinants of human capital formation and economic growth of African
countries. Economics of Education Review, 25, 554-564.
Pradhan, J., & Abraham, V. (2002). Does human development policy matter for economic growth?
Evidence from Indian states. South Asia Economic Journal, 3(1), 77-93.
Psacharopoulos, G. (1985). Returns to education: A further international update and implications.
Journal of Human Resources, 20, 583–604.
Psacharopoulos, G., & Woodhall, M. (1985). Education for development: An analysis of investment
choice. New York: OUP.
Ranis, G. (2004). Human development and economic growth. Center Discussion Paper NO. 887.
Ranis, G., Stewart, F., & Ramirez, A. (2000). Economic growth and human development. World
Development, 28(2), 197-219.
Romer, P.M. (1990). Human capital and growth: Theory and evidence. Carnegie – Rochester
Conference Series on Public Policy, 32, 251-286.
Schumpter, J.A. (1911). The theory of economic development. Harvard University Press, Cambridge
MA.
Shahbaz, M., Ahmed, N., & Ali, L. (2008). Stock market development and economic growth: ARDL
causality in Pakistan. International Research Journal of Finance and Economics, 14, 182-195.
Schwarz, G. (1978). Estimating the dimension of a model. Annals of Statistics, 6, 461-464.
Shaw, E.S. (1997). Financial deepening in economic growth. Oxford Univ. Press, NY.
Singh, T. (2007). Financial development and economic growth nexus: time series evidence from
India. Applied Economics, 1-13.
Suri, T., Boozer, M.A., Ranis, G., & Stewart, F. (2011). Paths to success: The relationship between
human development and economic growth. World Development, 39(4), 506-522.
Wang, Y., & Yao, Y. (2003). Sources of china’s economic growth 1952-1999: incorporating human
capital accumulation. China Economic Review, 14, 32-52.
Wayne Nafziger, E. (2006). Economic Development. Fourth Edition, Cambridge University Press.
World Bank, (2012). World Development Indicators- 2012. World bank, Washington D.C.
Zaman, k., Izhar, Z,. Mushtag Khan, M., & Ahmad, M. (2012). The relationship between financial
indicators and human development in Pakistan. Economic Modeling. 29, 1515-1523.
Zhang, C., & Zhuang, L. (2011). The composition of human capital and economic growth: Evidence
from China using dynamic panel data analysis. China Economic Review, 22, 165-171.
Zhang, J., Wang, L., & Wang, S. (2012). Financial development and economic growth: Recent
evidence from China. Journal of Comparative Economics, 40, 393-412.