Valickova, Petra; Havranek, Tomas; Horvath, Roman - Institut ekonomických studií, Univerzita Karlova v Praze - 2013
We analyze 1334 estimates from 67 studies that examine the effect of financial development on economic growth. Taken together, the studies imply a positive and statistically significant effect, but individual estimates vary a lot. We find that both research design and heterogeneity in the...