This paper argues that studying the effect of financial development and shocks on aggregate growth volatility will not … be informative because they affect growth volatility through its different components. Volatility declines either a … terms of volatility of shocks experienced, the GDP growth spectrum of one economy will lie proportionately below that of …

private sector relative to GDP) and growth for a sample of 65 less developed countries over a long period, 1980-2006. Using …, the pooled mean group model and dynamic fixed effect model show two opposite long-term relationships: finance-to-growth … relationship is negative whereas growth-to-finance link is positive. …

, seem to be related to macroeconomic growth volatility in the Greek economy. …This paper focuses on the impact of full capital account liberalization on macroeconomic volatility in Greece … reduce macroeconomic volatility. The link between macroeconomic volatility and capital account openness in the Greek economy …

the context of Africa since export diversification away from resources and agriculture is an important part of Africa …’s growth strategy. Our results show that in eleven countries financial development causes manufactured exports and manufactured …

Many empirical works addressed the nature of the relationship between economic growth and financial developments … equations methods to determine whether financial developments cause growth or vice versa. This paper uses the full information … maximum likelihood method to estimate a two equations model of growth and finance for India. We also argue that in virtually …

This paper examines empirical relationship between financial development and economic growth while incorporating the …. First, the relationship between financial development and economic growth from contemporaneous non-dynamic fixed effects … economic growth when inflation is rising. Second, in contrast with the recent evidence of Beck and Levine (2003), use of more …

This paper examines the effect of financial development on growth volatility with the dynamic panel data analysis. It … demonstrates empirically that financial development has a hump-shaped effect on growth volatility. In early stages of financial … development, growth rates are less volatile. As the financial sector develops, an economy is highly volatile. However, as the …

development on economic growth of Nigeria. The study uses time series data covering 1980 to 2011 periods paving the way for the … and economic growth. The cointegration test result reveals the presence of long run relation between rural financial … development and economic growth of Nigeria. Moreover, the DOLS results found a significant positive relationship between rural …