Financial structure and economic growth

Arbeitspapier

Recent empirical work on financial structure and economic growth analyzes multi-country dataset in panel and/or cross-section frameworks and concludes that financial structure is irrelevant. We highlight their shortcomings and re-examine this issue utilizing a time series and a Dynamic Heterogeneous Panel methods. Our sample consists of fourteen countries. Tests reveal that cross-country data cannot be pooled. Financial structure significantly explains output levels in most countries. The results are rigorously scrutinized through bootstrap exercises and they are robust to extensive sensitivity tests. We also test for several hypotheses about the prospective role of financial structure and financial development on economic growth.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Cardiff Economics Working Papers ; No. E2008/3

Classification and Topics

• Classification: Wirtschaft
• Subject: Wirtschaftswachstum ; Finanzsektor ; Kointegration ; Bootstrap-Verfahren

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Luintel, Kul B. ; Khan, Mosahid ; Arestis, Philip ; Theodoridis, Konstantinos
• Event: Veröffentlichung
• (who): Cardiff University, Cardiff Business School
• (where): Cardiff
• (when): 2008

Further information

• Handle: http://hdl.handle.net/10419/83908
• Last update: 10.03.2025, 11:45 AM CET