Loading...
Please wait, while we are loading the content...
Similar Documents
Political Openness and Growth in Developing Countries : Relationship and Transmission Channels
| Content Provider | Semantic Scholar |
|---|---|
| Copyright Year | 2018 |
| Abstract | The purpose of this paper is to study the relationship between financial integration, political openness, and economic development measured with GDP per capita growth. Our empirical investigation covers a sample of 108 developing countries between 1984 and 2008 and uses both static and dynamic panel data estimation. The results show that financial liberalization positively affects growth directly and through indirect channel like investment, trade and macroeconomic stability. It also supports financial development and promotes human capital. Even though democracy doesn’t directly influence growth, it has an indirect positive effect on it through favoring international trade in addition to financial and human capital development. Otherwise, political instability negatively affects growth directly and indirectly through decreasing investment and increasing inflation. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://jed.or.kr/full-text/43-1/1.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
