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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

Is finance good for growth? : new evidence from China

Chen, Jingzhu; Ji, Yuemei - 2022

us to construct a new and better financial development index which measures the level of loans extended by banks to …

Persistent link: https://www.econbiz.de/10013337564

Panel cointegration tests on the fiscal sustainability of German Laender

Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - 2014

This paper provides new evidence on the sustainability of public finances in German states (Laender) by exploiting a newly compiled database covering the years 1950 - 2011. Unlike previous studies on Germany, we analyze fiscal sustainability by applying "gsecond generation" panel cointegration...

Persistent link: https://www.econbiz.de/10010388585

Population size and the size of government

Krieger, Tim; Meierrieks, Daniel - 2019

We examine the effect of population size on government size for a panel of 130 countries for the period between 1970 and 2014. We show that previous analyses of the nexus between population size and government size are incorrectly specified and fail to consider the influence of cross-sectional...

Persistent link: https://www.econbiz.de/10011990048

Cash in circulation and the shadow economy : an empirical investigation for Euro area countries and beyond

Seitz, Franz; Reimers, Hans-Eggert; Schneider, Friedrich - 2018

We analyze the net issues of the national euro area central banks in relation to the dynamics of the shadow economy …

Persistent link: https://www.econbiz.de/10011872942

Payment innovations, the shadow economy and cash demand of households in euro area countries

Reimers, Hans-Eggert; Schneider, Friedrich; Seitz, Franz - 2020

We analyze for the first time cash holdings of private households in all euro area countries from 2002 to 2019 within a panel cointegration framework. Besides the traditional determinants of cash demand like transactions balances and opportunity costs, we concentrate on cashless payments media...

Persistent link: https://www.econbiz.de/10012291866

Too much in one basket? : debt concentration and sovereign yields

Afonso, António; Alves, José; Grabowski, Wojciech; … - 2025

We examine the effects of debt distribution characteristics, specifically skewness and maturity concentration, on sovereign yields across OECD countries over the period 1995Q1 to 2020Q4. After computing specific Lorenz curves and Gini coefficients, we find that positive skewness generally exerts...

Persistent link: https://www.econbiz.de/10015420879

The political economy of financial systems : evidence from suffrage reforms in the last two centuries

Degryse, Hans; Lambert, Thomas; Schwienbacher, Armin - 2013 - This version: August 23, 2013

Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the uncertainty...

Persistent link: https://www.econbiz.de/10010223450

Linkages between the US and European stock markets : a fractional cointegration approach

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; … - 2015

This paper analyses the long-memory properties of US and European stock indices, as well as their linkages, using fractional integration and fractional cointegration techniques. These methods are more general and have higher power than the standard ones usually employed in the literature. The...

Persistent link: https://www.econbiz.de/10011343058

On the frequency of price overreactions

Caporale, Guglielmo Maria; Plastun, Alex - 2018

-Fuller tests (ADF), Granger causality tests, and regression analysis with dummy variables. The following hypotheses are tested …

Persistent link: https://www.econbiz.de/10011844559