The relationship between finance and the real economy has been one of the long-term discussion topics among economists. However, in recent times in particular, this relationship has attracted more attention in view of the impact of financial factors on the real economy. This research project aims to empirically analyze the relationship between finance and the real economy, using time-series data and panel data. In doing so, we will focus on financial stability and the like on the side of finance and medium- to long-term factors associated with economic structures on the real economy side.
