Financial Development of a Region as the Factor of its Economic Growth

Student: Khrenova Irina

Educational Programme: Economics (Master)

Year of Graduation: 2020

The paper considers the relationship between indicators of economic growth and financial development. To carry out empirical analysis on Russian regions data, Data Envelopment Analysis and econometric modeling methods were used, including the principal component analysis and the partial least square regression. The empirical analysis made it possible to establish the existence of a relationship between a region's economic growth rates and the growth of the banking sector's efficiency, as well as the absence of a relationship between a region's economic growth and the scale of the banking sector.

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