Pollin, Robert; Ash, Michael; Zhu, Andong - Political Economy Research Institute (PERI), University … - 2002
Levine and Zervos (1998) presented cross-country econometric evidence showing that, in a sample of 47 countries, stock market liquidity contributed a significant positive influence on GDP growth between 1976-93. We show that the Levine-Zervos results are not robust to alternative specifications...