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Cointegration of International Stock Market Indices
Chou, Ray Yeu-Tien - 1994
In this paper, we derive evidence on the integration of international stock markets from the cointegration properties … of international stock market prices. Using the multivariate cointegration test of Johansen, we find that the set of six … subgroup analyses also indicate that the cointegration relationships have become stronger over time. This is consistent with …
Persistent link: https://www.econbiz.de/10014395829
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Credit expansion in emerging markets : propeller of growth?
Garcia-Escribano, Mercedes; Han, Fei - 2015
This paper explores the contribution of credit growth and the composition of credit portfolio (corporate, consumer, and housing credit) to economic growth in emerging market economies (EMs). Using cross-country panel regressions, we find significant impact of credit growth on real GDP growth,...
Persistent link: https://www.econbiz.de/10011373994
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Determinants of bank credit in emerging market economies
Guo, Kai; Stepanyan, Vahram - 2011
Persistent link: https://www.econbiz.de/10009486190
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Dollarization and financial development
Bannister, Geoffrey J.; Gardberg, Malin; Turunen, Jarkko - 2018
Despite significant strides in financial development over the past decades, financial dollarization, as reflected in elevated shares of foreign currency deposits and credit in the banking system, remains common in developing economies. We study the impact of financial dollarization,...
Persistent link: https://www.econbiz.de/10011932543
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Macrofinancial linkages and growth at risk in the Dominican Republic
Bespalova, Olga; Rousset, Marina - 2019
This paper uses the Growth-at-Risk (GaR) methodology to examine how macrofinancial conditions affect the growth outlook and its probability distribution. Using this approach, we evaluate risks to GDP growth in the Dominican Republic using quarterly data for 1996-2018. We group macrofinancial...
Persistent link: https://www.econbiz.de/10012154738
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Financial Development and Economic Growth : An Overview
Khan, Mohsin S. - 2000
with different indicators of financial development, estimation method, data frequency, and the functional form of the …
Persistent link: https://www.econbiz.de/10014403474
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An Empirical Reassessment of the Relationship Between Finance and Growth
Favarra, Giovanni - 2003
This paper reexamines the empirical relationship between financial development and economic growth. It presents evidence based on cross-section and panel data using an updated dataset, a variety of econometric methods, and two standard measures of financial development: the level of liquid...
Persistent link: https://www.econbiz.de/10014399535
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Linkages Between Financial Variables, Financial Sector Reform and Economic Growth and Efficiency
Johnston, R. B. - 1995
This paper analyzes the different channels through which financial variables and financial sector reform can affect economic growth and efficiency, using panel data for 40 countries which reformed their financial systems. Financial sector reform is hypothesized to affect economic growth and...
Persistent link: https://www.econbiz.de/10014395836
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Financial Deepening, Inequality, and Growth : A Model-Based Quantitative Evaluation
Townsend, Robert M. - 2003
We propose a coherent unified approach to the study of the linkages among economic growth, financial structure, and inequality, bringing together disparate theoretical and empirical literature. That is, we show how to conduct model-based quantitative research on transitional paths. With...
Persistent link: https://www.econbiz.de/10014400139
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Remittances, Financial Development, and Growth
Ruiz-Arranz, Marta - 2005
There has been little systematic empirical study on the relationship between remittances and growth. This paper attempts to examine this relationship. Using a newly constructed crosscountry of data series for remittances covering a large sample of developing countries, we relate the interaction...
Persistent link: https://www.econbiz.de/10014401504