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Value at Risk and Economic Growth

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  • Miguel-Ángel Galindo Martín

    ()

  • Francisco Sotos

    ()

  • María Picazo

    ()

Abstract

The improvement of data statistics as well as the econometrician methods have facilitated the introduction the new variables and factors I the economic growth analysis. In this sense, real variables have mainly been considered in the economic growth studies, but not financial or risk management aspects. In this sense, it is interesting to analyze the relationship between economic growth and value at risk and the feed-back process. The goal of the paper is to analyze the relationship between economic growth and risk management and the feed-back process. We will consider economic variables, including economic growth, rule of law, human capital, fiscal policy and monetary policy, among others, in our analysis. We will analyze the theoretical relationships between these variables and risk and the effects of risk on economic growth. We will also develop an empirical analysis considering the case of 15 European Union countries. Copyright International Atlantic Economic Society 2007

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Bibliographic Info

Article provided by Springer in its journal International Advances in Economic Research.

Volume (Year): 13 (2007)
Issue (Month): 2 (May)
Pages: 214-221

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Handle: RePEc:kap:iaecre:v:13:y:2007:i:2:p:214-221

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Web page: http://www.springerlink.com/link.asp?id=112112

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Keywords: economic growth; risk; efficiency; human capital; O10;

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  1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-37, October.
  2. Acemoglu, Daron & Zilibotti, Fabrizio, 1996. "Was Prometheus Unbound by Chance? Risk, Diversification and Growth," CEPR Discussion Papers 1426, C.E.P.R. Discussion Papers.
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  10. Aghion, Philippe & Caroli, Eve & Garcia-Penalosa, Cecilia, 1999. "Inequality and economic growth: the perspective of the new growth theories," CEPREMAP Working Papers (Couverture Orange) 9908, CEPREMAP.
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