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The relationship between housing investment and economic growth in China: A panel analysis using quarterly provincial data
Chen, Jie; Zhu, Aiyong - 2008
techniques for panel unit root testing and heterogeneous panel cointegration analysis are employed. The empirical results provide …
Persistent link: https://www.econbiz.de/10010321479
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Desarrollo del mercado accionario y crecimiento económico: Alguna evidencia para la Argentina
Lanteri, Luis - 2013
This paper examines the relationship between stock market development and economic growth in case of Argentina's economy. Apply Granger causality and exogeneity tests based on VEC (vector error correction) models with monthly data covering the period 1993:1-2010:8. The results show that the...
Persistent link: https://www.econbiz.de/10010325080
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Further Evidence on Defence Spending and Economic Growth in NATO Countries
Ozun, Alper; Erbaykal, Erman - 2011
The main purpose of this paper is to analyze the causal relationships between defence spending and economic growth using the Toda-Yamamoto approach to Granger causality test in the case of selected NATO countries for the period of 1949-2006. NATO countries spend biggest proportion of defence...
Persistent link: https://www.econbiz.de/10010500182
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On the Causality Between Saving and Growth: Long- and Short-Run Dynamics and Country Heterogeneity
Andersson, Björn - 1999
The temporal interdependence between saving and output has been in focus in a number of recent empirical studies. Results from these studies have compelled some authors to question the traditional notion of a causal chain where saving leads growth through capital accumulation. This paper...
Persistent link: https://www.econbiz.de/10010321740
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Financial development and TFP growth: Cross-country and industry-level evidence
Arizala, Francisco; Cavallo, Eduardo; Galindo, Arturo - 2009
This paper estimates the impact of financial development on industry-level total factor productivity (TFP) growth using a largely unexploited panel of 77 countries with data for 26 manufacturing industries for the years 1963 to 2003. A significant relationship is found between financial...
Persistent link: https://www.econbiz.de/10010278217
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Institutions, the cost of capital, and long-run economic growth: Evidence from the 19th century capital market
Alquist, Ron; Cha, Ben - 2012
Late 19th century investors demanded compensation to invest in countries with poor institutional protection of property rights. Using the monthly stock returns of 1,808 firms located in 43 countries but traded in London between 1866 and 1907, we estimate the country-specific cost of capital. We...
Persistent link: https://www.econbiz.de/10010292144
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Financial development and sectoral output growth in 19th century Germany
Diekmann, Katharina; Westermann, Frank - 2010
In this paper we re-evaluate the hypothesis that the development of the financial sector was an essential factor behind economic growth in 19th century Germany. We apply a structural VAR framework to a new annual data set from 1870 to 1912 that was initially recorded by Walther Hoffmann (1965)....
Persistent link: https://www.econbiz.de/10010330129
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Industry Diversification, Financial Development and Productivity-Enhancing Investments
Schclarek, Alfredo - 2006
This paper theoretically studies the role of the financial system in promoting macroeconomic stability and growth. It also explains endogenously the development of the financial system as part of the growth process. The productive sector engages in R\&D activities, and finances its activities...
Persistent link: https://www.econbiz.de/10013208504
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The growth-finance nexus in Brazil: Evidence from a new dataset, 1890-2003
Campos, Nauro F.; Karanasosa, Menelaos; Koutroumpis, … - 2019
one side, what is the relationship between financial development, trade openness, political instability and economic … negative time-varying impact on economic growth, which significantly depends on jointly estimated trade openness thresholds …. Moreover our estimates highlight a positive impact of trade openness on growth but with interesting variation regarding their …
Persistent link: https://www.econbiz.de/10012144229
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Frankel and Romer revisited
Kyvik Nordås, Hildegunn - 2018
Frankel and Romer (1999) proposed an instrument variable for trade intensity to robustly assess the causal impact of … international trade on standards of living. The instrument is based on OLS estimates of the gravity equation and has been widely … with trade, suggesting that what is captured may be a direct link between geography and income. …
Persistent link: https://www.econbiz.de/10012654432