The Finance and Growth Nexus Re-Examined : Do All Countries Benefit Equally?

• Autorzy: Adolfo Barajas , Ralph Chami , Seyed Reza Yousefi
• Języki publikacji: EN

Abstrakty

EN

A large theoretical and empirical literature has focused on the impact of financial deepening on economic growth throughout the world. This paper contributes to the literature by investigating whether this impact differs across regions, income levels, and types of economy. Using a rich data set for 150 countries for the period 1975-2005, dynamic panel estimation results suggest that the bene ficial effect of financial deepening on economic growth in fact displays measurable heterogeneity; it is generally smaller in oil exporting countries; in certain regions, such as the Middle East and North Africa (MENA); and in lower-income countries. Further analysis suggests that these differences might be driven by the degree of competition, and related to differences in the ability to provide widespread access to financial services. (original abstract)

Słowa kluczowe

EN

Economic growth; Finance; Research of macroeconomic relationships; International comparisons

PL

Wzrost gospodarczy; Finanse; Badanie zależności makroekonomicznych; Porównania międzynarodowe

• Czasopismo: Journal of Banking and Financial Economics
• Rocznik: 2016
• Numer: nr 1(5)
• Strony: 5--38

Twórcy

autor

Adolfo Barajas

• International Monetary Fund

autor

Ralph Chami

• International Monetary Fund

autor

Seyed Reza Yousefi

• The World Bank

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