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Stock markets, banks and long run economics growth : a panel cointegration-based analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz C. - 2013
The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …
Persistent link: https://www.econbiz.de/10010223077
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Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - CESifo - 2013
The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …
Persistent link: https://www.econbiz.de/10010723543
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Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - 2013
The aim of this paper is to investigate the long run relationship between the development of banks and stock markets … the direction of potential causality between financial and economic development. Our results conclude to the existence of … a single cointegrating vector between financial development and growth and of causality going from financial development …
Persistent link: https://www.econbiz.de/10010328841
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Searching for the Finance-Growth Nexus in Libya
Cevik, Serhan; Rahmati, Mohammad - International Monetary Fund (IMF) - 2013
This paper investigates the causal relationship between financial development and economic growth in Libya during the period 1970–2010. The empirical results vary with estimation methodology and model specification, but indicate the lack of long-run relationship between financial...
Persistent link: https://www.econbiz.de/10010790327
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Too Much Finance?
Berkes, Enrico; Panizza, Ugo; Arcand, Jean-Louis - International Monetary Fund (IMF) - 2012
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a...
Persistent link: https://www.econbiz.de/10010790393
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Bank-Based or Market-Based Financial Systems: Which is Better?
Levine, Ross - William Davidson Institute, University of Michigan - 2002
For over a century, economists and policy makers have debated the relative merits of bank-based versus market-based financial systems. Recent research, however, argues that classifying countries as bank-based or market is not a very fruitful way to distinguish financial systems. This paper...
Persistent link: https://www.econbiz.de/10005489929
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Financial deepening, terms of trade shocks, and growth volatility in low-income countries
Kpodar, Kangni; Le Goff, Maëlan; Singh, Raju Jan - 2019
-whether financial intermediation is performed through banks or markets-for macroeconomic volatility, against the backdrop of increased …
Persistent link: https://www.econbiz.de/10012009977
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Revisiting fiscal sustainability: panel cointegration and structural breaks in OECD countries
Afonso, António; Jalles, João Tovar - ISEG - School of Economics and Management, Department … - 2012
for Australia, Belgium, Germany, Ireland, Netherlands and the UK; Granger causality from government debt to the primary …
Persistent link: https://www.econbiz.de/10010599167
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Foreign Direct Investment and Economic Growth in Pakistan: A Sectoral Analysis
Khan, Muhammad Arshad; Khan, Shujaat Ali - eSocialSciences - 2012
under the framework of Granger causality and panel cointegration for Pakistan over the period 1981-2008. The result supports … result also supports the evidence of long-run causality running from GDP to FDI, while in the short run, the evidence of two …-way causality between FDI and GDP is identified. At the sectoral level, the effects of FDI on growth vary significantly across …
Persistent link: https://www.econbiz.de/10009393985
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Revisiting fiscal sustainability: panel cointegration and structural breaks in OECD countries
Afonso, António; Jalles, João Tovar - European Central Bank - 2012
for Australia, Belgium, Germany, Ireland, Netherlands and the UK; Granger causality from government debt to the primary …
Persistent link: https://www.econbiz.de/10010686817