haku: @indexterm ECONOMIC GROWTH / yhteensä: 1784
viite: 23 / 1784
| Tekijä: | Huang, H-C. Lin, S-C. |
| Otsikko: | Non-linear finance-growth nexus: A threshold with instrumental variable approach |
| Lehti: | Economics of transition
2009 : VOL. 17:3, p. 439-466 |
| Asiasana: | development economic growth |
| Kieli: | eng |
| Tiivistelmä: | 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. |
SCIMA