Mapping the elasticity of economic growth to financial development: A 1980 - 2012 empirical analysis for 100 countries
This research analyzes the impact of financial development on economic growth for a set of 100 countries. It applies cointegration methods taking into account country heterogeneities, which have not been studied up to now at a detailed level. Financial development is measured by a broad index or one of its three dimensions (deepness, accessibility and efficiency). Mapping the estimated elasticities of economic growth to financial development, deepness and accessibility exhibit, graphically, a bellshaped quadratic form. The evidence of strong country heterogeneity suggests that policy prescriptions should take into account the idiosyncratic factors of each country.
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| Main Authors: | , |
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| Format: | Fil: Fil: Zarzosa Valdivia, Fernando. Universidad Nacional de Córdoba. Facultad de Ciencias Económicas; Argentina. biblioteca |
| Language: | eng |
| Published: |
Asociación Argentina de Economía Política
2017-11
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| Subjects: | Financial development, Economic growth, Elasticities, Cointegration, |
| Online Access: | http://hdl.handle.net/11086/19426 |
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