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Stock markets, banks and long run economics growth : a panel cointegration-based analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz C. - 2013
The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …
Persistent link: https://www.econbiz.de/10010223077
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Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - CESifo - 2013
The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …
Persistent link: https://www.econbiz.de/10010723543
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Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - 2013
The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …
Persistent link: https://www.econbiz.de/10010328841
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Causal relationship between trade openness and economic growth : a panel data analysis of Asian countries
Alam, Khandaker Jahangir; Sumon, Khairul Kabir - In: International journal of economics and financial issues … 10 (2020) 1, pp. 118-126
Persistent link: https://www.econbiz.de/10012151237
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Does the insurance sector really matter for economic growth? : evidence from Central and Eastern European countries
Bayar, Yılmaz; Dan Gavriletea, Marius; Danuletiu, Dan … - In: Journal of business economics and management 22 (2021) 3, pp. 695-713
, (3) Dumitrescu and Hurlin causality test indicates a unidirectional causality running from economic growth to both life …
Persistent link: https://www.econbiz.de/10012506291
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Searching for the Finance-Growth Nexus in Libya
Cevik, Serhan; Rahmati, Mohammad - International Monetary Fund (IMF) - 2013
This paper investigates the causal relationship between financial development and economic growth in Libya during the period 1970–2010. The empirical results vary with estimation methodology and model specification, but indicate the lack of long-run relationship between financial...
Persistent link: https://www.econbiz.de/10010790327
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Too Much Finance?
Berkes, Enrico; Panizza, Ugo; Arcand, Jean-Louis - International Monetary Fund (IMF) - 2012
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a...
Persistent link: https://www.econbiz.de/10010790393
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Financial Development and Economic Growth - A Comparative Analysis
Yay, Gülsün; Oktayer, Asuman - In: Journal for Economic Forecasting 6 (2009) 3, pp. 56-74
countries comparatively. The impacts of both stock markets and banks on economic growth are examined by using a panel data set … both stock markets and banks positively influence the economic growth, the results of econometric evidence relevant to …
Persistent link: https://www.econbiz.de/10008472202
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Bank-Based or Market-Based Financial Systems: Which is Better?
Levine, Ross - William Davidson Institute, University of Michigan - 2002
For over a century, economists and policy makers have debated the relative merits of bank-based versus market-based financial systems. Recent research, however, argues that classifying countries as bank-based or market is not a very fruitful way to distinguish financial systems. This paper...
Persistent link: https://www.econbiz.de/10005489929
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Financial deepening, terms of trade shocks, and growth volatility in low-income countries
Kpodar, Kangni; Le Goff, Maëlan; Singh, Raju Jan - 2019
-whether financial intermediation is performed through banks or markets-for macroeconomic volatility, against the backdrop of increased …
Persistent link: https://www.econbiz.de/10012009977