Paper Title
Finance-Growth Nexus With Financial Crisis and Openness in South Korea

Abstract
South Korea�s finance-growth nexus is empirically investigated by taking the elements of financial crisis and openness―trade and financial―by employing the vector error correction models with weakly exogenous I(1) variables (VARX). The main findings are: (1) financial efficiency contributes to accelerating economic growth; (2) the causality between economic growth and financial size is bilateral and negative; and (3) financial crisis is negative to both economic growth and financial development, whereas the growth-promoting effects of trade and financial openness are confirmed. Keywords� Finance-growth nexus, Financial crisis, Openness, Cointegration, VARX, South Korea.