[PDF] Top 20 Financial Development and Economic Growth: Evidence from a Heterogeneous Panel of High Income Countries

... a panel GMM estimator to analyze the finance and growth relationship, but as pointed out by Kiviet (1995), panel data models that use instrumental variables estimation often lead to poor finite ... See full document

... between financial development and economic growth while incorporating the inflation rate effect on financial development for low income ...in heterogeneous ... See full document

... between financial development and economic growth using panel data for five emerging South Asian countries - Bangladesh, India, Nepal, Pakistan and Sri ...The ... See full document

... that financial development when measured by credit/GDP ratio and M2/GDP do not have statistically significant impact on economic growth; however, when measured by adding private ... See full document

... econometric evidence that especially at low per capita income levels, income inequality may be associated with higher aggregate ...and growth, and analyzes the impacts of growth, ... See full document

... Asian countries have seen spectacular economic development in the region for the past three ...the countries in the region have undoubtedly achieved miraculous economic growth ... See full document

... on growth is that protectionism is highly correlated with other growth-reducing policies, such as policies that perpetuate macroeconomic ...of growth-reducing ...and growth has proceeded ... See full document

... several countries around the world, which are regarded by economists as seriously harmful to economic growth (Aisen & Veiga, ...impedes economic growth, creates political ... See full document

... and/or financial openness and economic ...recovery from the 2008 global economic downturn and financial melt-down; amid struggling western nations, point to the great role, this ... See full document

... the development of financial system 23 ...enforce financial contracts, support financial intermediation and reduce transaction costs, helps to develop the financial ...rights ... See full document

... that financial sector development drives (domestic) investment, empirical evidence for the ECOWAS is ...different from the highlighted studies, as it adopts a panel data procedure and ... See full document

... resulting from first generation tests based on the hypothesis of inter-individual independence of residuals and assume an hetero- geneous specification of the auto regressive ...the growth rate of real GDP, ... See full document

... for panel data requires the assessment of cross-sectional dependence. Panel data models are more likely to exhibit cross-sectional dependence in the errors, which may arise due to the presence of common ... See full document

... recent financial crisis over economic growth model was studied based on variables of financial ...global economic growth was borne by emerging economies and countries like ... See full document

... African countries during the 1990s and using a dynamic panel data estimator, Kwabena Gyimah-Brempong (2002) studied the effects of corruption on the rate of income growth by resident and ... See full document

... economic growth in the short-run and in the ...of financial policies in the countries studied and the response of these economies to policies, level of development and governance ... See full document

... between financial development and economic growth for the MENA ...MENA countries is accounted for by the fact that firs, despite significant efficiency discrepancies are observed ... See full document

... similar income levels, but we notice considerable écarts between the countries of the region in terms of financial sector development ...The financial systems in the region remain ... See full document

... Our panel sample includes ten countries and 36 years. There is more time (years) than cross-sample units (countries). In this framework, the use of an Autoregressive Distributed Lag (ARDL) model is ... See full document

... between financial development and economic growth has in recent year, occupied the minds of financial economists and ...of economic growth, [see, McKinnon (1973), Levine ... See full document