In: Ekonomický časopis/Journal of Economics, vol. 54, no. 8
Sevinç Mihci
Detaily:
Rok, strany: 2006, 830 - 844
Kľúčové slová:
Keywords: financial markets, economic growth, threshold effect, panel data
JEL Classification: C23, E44, G20, O16
Typ článku: Vedecký článok
O článku:
Existing empirical research fails to provide robust support concerning the impact of financial development on economic growth, in the presence of substantial variations across different time periods and country groups. It is suggested that the variations in question are to be accounted for by a threshold effect, in support of which, it seems to have been found modest empirical evidence. Panel-data analysis for a set of 32 developing and developed countries for the period of 1990 – 2001 indicates a threshold level of financial development, with the implication that positive effects fail to materialize at relatively lower stages of financial development. Moreover, financial development has actually got a nega-tive impact on GDP per capita, unless it exceeds the threshold level.
Ako citovať:
ISO 690:
Mihci, S. 2006. Finance-Growth Nexus: A Threshold Effect. In Ekonomický časopis/Journal of Economics, vol. 54, no.8, pp. 830-844. 0013-3035.
APA:
Mihci, S. (2006). Finance-Growth Nexus: A Threshold Effect. Ekonomický časopis/Journal of Economics, 54(8), 830-844. 0013-3035.