Bordo, Michael D.; Rousseau, Peter L. - In: Journal of Banking & Finance 36 (2012) 4, pp. 1236-1243
We study linkages between financial development, international trade, and long-run growth using data since 1880 for 17 now-developed “Atlantic” economies and a set of cross country and dynamic panel data models. We find that finance and trade reinforce each other in data before 1930, but...