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Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - CESifo - 2013
and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence …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 …
Persistent link: https://www.econbiz.de/10010723543
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Trade Openness, Financial Development, and Economic Growth in Turkey: Linear and Nonlinear Causality Analysis
KAR, Muhsin; NAZLIOGLU, Saban; AGIR, Huseyin - In: Journal of BRSA Banking and Financial Markets 8 (2014) 1, pp. 63-86
This paper aims at empirically investigating the direction of causality among trade liberalization, financial … and nonlinear causality approaches indicate that (i) there is bi-directional causality between economic growth and trade …
Persistent link: https://www.econbiz.de/10010960382
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A return to fundamentals: Fausto Vicarelli's thought on finance vs. growth and efficiency vs. stability
Garofalo, Giuseppe; GNESUTTA, Claudio - In: Rivista Italiana degli Economisti 15 (2010) 1, pp. 105-142
The present economic and financial crisis is taking place at the climax of a period in which mainstream economic theory, on the one hand, and global financial liberalization on the other, had given credit once again to the self-regulatory ability of markets, which also seemed to find...
Persistent link: https://www.econbiz.de/10008475970
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Causal nexus between economic growth, banking sector development, stock market development, and other macroeconomic variables: The case of ASEAN countries
Pradhan, Rudra P.; Arvin, Mak B.; Hall, John H.; … - In: Review of Financial Economics 23 (2014) 4, pp. 155-173
construction of the development indices and a panel vector auto-regressive model for testing the Granger causalities, this study … finds the presence of both unidirectional and bidirectional causality links between these variables. The study contributes … bank accounts. Another policy recommendation is to nurture stock market development, which will facilitate the increased …
Persistent link: https://www.econbiz.de/10011077888
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Institutional quality thresholds and the finance – Growth nexus
Law, Siong Hook; Azman-Saini, W.N.W.; Ibrahim, Mansor H. - In: Journal of Banking & Finance 37 (2013) 12, pp. 5373-5381
Using an innovative threshold estimation technique, this study examines whether the growth effect of financial …
Persistent link: https://www.econbiz.de/10010709468
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Political Volatility and Capital Markets: Evidence from Transition
Hartwell, Christopher - HKUST Institute for Emerging Market Studies (IEMS), … - 2015
This paper looks at the effects of political volatility in transition economies to ascertain how nascent political institutions affect fledgling capital markets. Asymmetric (GJR) GARCH modeling of monthly data was taken for 21 transition economies on financial volatility, political volatility,...
Persistent link: https://www.econbiz.de/10011266148
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Money, Regulation & Growth: financing new growth in Europe
BASTIDON, Cécile; Cukierman, Alex; Kane, Edward J.; … - SUERF - The European Money and Finance Forum
On June 4-5, 2014, SUERF and Baffi Finlawmetrics jointly organised a Colloquium/Conference “Money, Regulation and Growth: Financing New Growth in Europe” at Bocconi University, Milan. The present SUERF Study includes a selection of papers based on the authors’ contributions to the Milan...
Persistent link: https://www.econbiz.de/10011212146
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Capital Freedom, Financial Development and Provincial Economic Growth in China
Söderlund, Bengt; Gustavsson Tingvall, Patrik - Ratioinstitutet - 2014
For more than three decades, China has managed to combine rapid economic growth with a heavily regulated financial sector. The discrepancy between economic and financial development has raised the question of whether China might be an exception to the so-called finance-growth nexus. This study...
Persistent link: https://www.econbiz.de/10011096120
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Financial development and economic growth: New evidence from Tunisia
Ben Jedidia, Khoutem; Boujelbène, Thouraya; Helali, Kamel - In: Journal of Policy Modeling 36 (2014) 5, pp. 883-898
traded and issuing bank's securities on the financial market as financial development indicators. …
Persistent link: https://www.econbiz.de/10010939739
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Financial Development and Economic Growth in a Natural Resource Based Economy: Evidence from Angola
Quixina, Yuri; Almeida, Álvaro - Faculdade de Economia, Universidade do Porto - 2014
. We test for Granger causality between three variables – oil revenues, non-oil GDP and financial development – for the … growth, since we identified Granger causality from oil revenues to the other two variables, but none of these variables …
Persistent link: https://www.econbiz.de/10010949333