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Financial liberalization, growth, productivity and capital accumulation: The case of European integration
Gehringer, Agnieszka - 2012
In the present contribution, we concentrate on the process of financial liberalization in a specific context of European economic and monetary integration. We implement de facto and de jure measures of financial liberalization and find that formal aspects of financial openness generate a...
Persistent link: https://www.econbiz.de/10010311699
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Analyzing the stock markets role as a source of capital formation in Pakistan
Kanasro, Hakim Ali; Junejo, Mumtaz Ali; Junejo, Mansoor … - In: Pakistan Journal of Commerce and Social Sciences (PJCSS) 5 (2011) 2, pp. 273-282
This paper is to examine the stock markets role in the capital formation in Pakistan from the period 1st January 2001 to 31st December 2008. This analytical study is based on the data collected from the secondary sources such as State Bank of Pakistan and three stock exchanges; Karachi, Lahore...
Persistent link: https://www.econbiz.de/10011938288
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Public ownership of banks and economic growth: The role of heterogeneity
Körner, Tobias; Schnabel, Isabel - 2010
In an influential paper, La Porta, Lopez-De-Silanes and Shleifer (2002) argued that public ownership of banks is associated with lower GDP growth. We show that this relationship does not hold for all countries, but depends on a country's financial development and political institutions. Public...
Persistent link: https://www.econbiz.de/10010286709
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Does financial activity cause economic growth?
Graff, Michael; Karmann, Alexander - 2001
To clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a structural equation path models is estimated. In the modeling part, poverty traps result from large fixed costs or high proportions of real investment to run a financial...
Persistent link: https://www.econbiz.de/10010305424
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Economic growth in oil-exporting countries: Do stock market and banking sector development matter? Evidence from Nigeria
Nwani, Chinazaekpere; Orie, Jacob Bassey - In: Cogent Economics & Finance 4 (2016) 1, pp. 1-11
growth in Nigeria over the period 1981-2014 using the autoregressive distributed lag (ARDL) approach to co …-integration analysis. Controlling for the possible effects of crude oil price and trade openness on economic activities in Nigeria, this … study found both stock market and banking sector development insignificant in influencing economic growth in Nigeria. In …
Persistent link: https://www.econbiz.de/10011559207
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Finance-Growth Nexus and the P-Bias. Evidence from OECD Countries
Hahn, Franz R. - 2004
Recent empirical OECD studies provide new empirical evidence confirming that financial development is closely linked to economic growth in OECD countries. Using new dynamic panel regression techniques, these appraisals indicate that within the group of high income countries stock market size as...
Persistent link: https://www.econbiz.de/10011435140
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Financial Development and Macroeconomic Volatility. Evidence from OECD Countries
Hahn, Franz R. - 2003
This paper discusses the link between financial development and macroeconomic volatility by exploring some of the ways through which financial development may affect business cycle fluctuations. To be specific, we examine whether stock market development exerts an unambiguous effect on...
Persistent link: https://www.econbiz.de/10011435122
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Financial development and economic growth: Known knowns, known unknowns, and unknown unknowns
Panizza, Ugo - 2013
This paper summarizes the main findings of the literature on the relationship between financial and economic development (the known knowns), points to directions for future research (the known unknowns), and then speculates on the third Rumsfeldian category. The known knowns section organizes...
Persistent link: https://www.econbiz.de/10011381210
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What do we know about pro-poor growth and regional poverty in Nigeria?
Ichoku, Hyacinth Eme; Agu, Chukwuma; Ataguba, John Ele-Ojo - In: International Journal of Economic Sciences and Applied … 5 (2012) 3, pp. 147-172
This study investigates the pro-poorness of income growth in Nigeria. Using nationally representative data for 1996 and … 2004, overall income growth in Nigeria was found not to be pro-poor. The richer segments of the population appropriate … need for smaller family size has to be an integral part of policy aimed at poverty reduction in Nigeria. The support of the …
Persistent link: https://www.econbiz.de/10011310239
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Equity market liberalization, credit constraints and income inequality
Sun, Puyang; Sen, Somnath; Jin, Shujing - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-12, pp. 1-28
This paper provides compelling evidence that equity market liberalization, as the most efficient way to smooth financial market frictions such as credit constraints, can alleviate persistent cross-dynastic income inequality by promoting increased human capital accumulation. The authors examine...
Persistent link: https://www.econbiz.de/10010311850