Research on the Long-Term Correlation between Financial, Economic Growth and Macroeconomic Stability in Developing Countries

Matyakubov Azizbek, Zhang Diping, H U Junjuan

Abstract: Thesis paper is devoted to assessing the non-linear forms of links between the indicators of the depth of development of the financial sector, on the one hand, and the rate of economic growth and macroeconomic stability at the level of national economies, on the other hand. As indicators of financial depth, the following were used: the domestic credit market, the domestic market for corporate bonds and the market for external corporate borrowings.

Keywords: non-linear, development, economic growth