Yeh, Chih-Chuan; Huang, Ho-Chuan; Lin, Pei-Chien - In: Economic Modelling 35 (2013) C, pp. 391-400
finds that financial structure is significantly cointegrated to both economic growth and its volatility. In particular, the … relationship is positive in nature, suggesting that more market-based countries enjoy faster economic growth but suffer more from … of sensitivity checks, including the problem of endogeneity, the use of different financial structure (and growth …