Bordo, Michael D.; Rousseau, Peter L. - In: Journal of Banking & Finance 36 (2012) 4, pp. 1236-1243
We study linkages between financial development, international trade, and long-run growth using data since 1880 for 17 … trade reinforce each other in data before 1930, but that these effects do not persist after the Second World War. Financial … development affects growth positively throughout the sample period, while trade affects growth strongly and independently after …