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Stock Markets , Banks , and Growth : Correlation or Causality
| Content Provider | Semantic Scholar |
|---|---|
| Author | Beck, Thorsten Levine, Ross |
| Copyright Year | 2001 |
| Abstract | This paper investigates the impact of stock markets and banks on economic growth using a panel data set for the period 1976-98 and applying recent GMM techniques developed for dynamic panels. Econometrically, the paper illustrates the differences that emerge from different panel procedures. On balance, we find that stock markets and banks positively influence economic growth and these findings are not due to potential biases induced by simultaneity, omitted variables or unobserved country-specific effects. JEL Classification: G00; O16; F 36 |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://econ.worldbank.org/files/2389_wps2670.pdf |
| Alternate Webpage(s) | http://documents.worldbank.org/curated/en/208491468739489970/pdf/multi0page.pdf |
| Alternate Webpage(s) | http://www-wds.worldbank.org/external/default/WDSContentServer/IW3P/IB/2001/10/27/000094946_01100404003716/additional/112512322_20041117174524.pdf |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Autocorrelation Bank (environment) Causality Conditioning (Psychology) Disease regression Economic Growth Endogeneity (econometrics) Fetal Growth Retardation Gm(m) Google Map Maker Overfitting Panel data Self-information Specification Spur - plant part Theory |
| Content Type | Text |
| Resource Type | Article |
