Showing 1 - 10 of 201
The paper describes tests of hypotheses from economic history concerning the significance of financial development as a determinant of economic growth. It goes beyond the existing studies in drawing on a large panel data set covering 93 countries from 1970-90 and includes a new proxy for the...
Persistent link: https://www.econbiz.de/10010305415
Persistent link: https://www.econbiz.de/10010285943
This paper addresses the notion of an optimum level of financial activity that is contingent on a country's general level of development. Referring to threshold regressions and a bootstrap test for structural shift of the finance regressor in a growth equation, it is shown that countries gain...
Persistent link: https://www.econbiz.de/10010285949
Integration a.ects economic growth mainly through two different channels : The scale-effect channel and the factor-reallocation channel. In order to investigate both channels within a unifying framework, we employ a simple descriptive growth model. The scale-effect channel increases either the...
Persistent link: https://www.econbiz.de/10011753097
We set up a dynamic stochastic model of a stylized economy comprising a final output sector (with traditional and modern firms) and an intermediate goods sector. It is shown that market integration reduces the volatility of the rate of return of capital invested in modern firms. The induced...
Persistent link: https://www.econbiz.de/10011753105
Persistent link: https://www.econbiz.de/10000997420
Persistent link: https://www.econbiz.de/10000681834
Persistent link: https://www.econbiz.de/10001396290
Persistent link: https://www.econbiz.de/10001204765
Persistent link: https://www.econbiz.de/10000931128