search query: @indexterm ECONOMIC GROWTH / total: 1784
reference: 23 / 1784
| Author: | Huang, H-C. Lin, S-C. |
| Title: | Non-linear finance-growth nexus: A threshold with instrumental variable approach |
| Journal: | Economics of transition
2009 : VOL. 17:3, p. 439-466 |
| Index terms: | development economic growth |
| Language: | eng |
| Abstract: | This paper examines whether the finance-growth nexus varies with the stages of economic development. This study detects overwhelming evidence in support of a positive linkage between financial development and economic growth using a novel threshold regression with the instrumental variables approach proposed by Caner and Hansen (2004) to the dataset used in Levine et al.(2000). This positive effect is larger in the low-income countries than in the high-income ones. It is also revealed that financial development tends to have stronger impacts on capital accumulation and productivity growth in the low-income countries than in the high-income ones. |
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