Financial development and economic growth: An application of ARDL model on developed and developing countries

Financial development and economic growth are vital for both developed developing nations because it determines a country’s rate the complexity of its financial system. A sample economies from 2005-2019 was used in this study to observe whether there is an association between growth. The purpose compare countries. An ARDL model analyze secondary data top 15 Developed countries (United States America, Japan, Germany, United Kingdom, France, Italy, Canada, Korea, Rep., Australia, Spain, Netherlands, Switzerland, Poland, Belgium, Austria) Developing (China, India, Brazil, Russian Federation, Mexico, Indonesia, Thailand, Nigeria, Argentina, Philippines, Malaysia, South Africa, Colombia, Egypt, Arab Pakistan) based on GDP 2019 (Current US$). Findings shows some interesting insights long short run relationship among indicators model. This research might help enhance their structure over time, while suggests new policies initiatives.