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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

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

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

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

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

Witching days and abnormal profits in the US stock market

Caporale, Guglielmo Maria; Plastun, Alex - 2021

This paper examines price effects related to witching days in the US stock market using both weekly and daily data for three major indices, namely the Dow Jones, SP500 and Nasdaq, over the period 2000-2021. First it analyses whether or not anomalies in price behaviour arise from witching by...

Persistent link: https://www.econbiz.de/10012649760

The Covid-19 pandemic, policy responses and stock markets in the G20

Caporale, Guglielmo Maria; Kang, Woo-Young; Spagnolo, Fabio - 2021

This paper analyses the impact of the Covid-19 pandemic on stock market returns and their volatility in the case of the G20 countries. In contrast to the existing empirical literature, which typically focuses only on either Covid-19 deaths or lockdown policies, our analysis is based on a...

Persistent link: https://www.econbiz.de/10012622463

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