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Analysis of a panel data set for 1976-98 shows that on balance stock markets and banks positively influence economic growth; findings that do not result from biases induced by simultaneity, omitted variables, or unobserved country-specific effects
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financial, legal, and corruption problems on firm size. Data are taken from a size-stratified survey of over 4,000 firms in 54 … countries.The questions sought to identify obstacles to firm performance and growth internationally. The World Business … Environment Survey is used to identify the level of financing, legal and corruption obstacles in each country.An attempt is made …
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"While substantial research finds that financial development boosts overall economic growth, we study whether financial development disproportionately raises the incomes of the poor and alleviates poverty. Using a broad cross-country sample, we distinguish among competing theoretical predictions...
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