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Poolability and the finance-growth nexus: a cautionary note

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  • Andrea Vaona

    (Department of economics (verona))

  • Stefano Schiavo

    (Department of Economic Geography)

Abstract

The present contribution tests whether countries can be pooled when studying the financegrowth nexus. Overall, our results point toward a ‘pragmatic’ positive answer, though considerable heterogeneity is present among developing countries.

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File URL: http://spire.sciencespo.fr/hdl:/2441/7064/resources/kap1299.pdf
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Bibliographic Info

Paper provided by Sciences Po in its series Sciences Po publications with number 1299.

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Date of creation: Oct 2006
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Handle: RePEc:spo:wpmain:info:hdl:2441/7064

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Keywords: Poolability; Finance; Growth;

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References

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  1. Beck, Thorsten & Levine, Ross, 2004. "Stock markets, banks, and growth: Panel evidence," Journal of Banking & Finance, Elsevier, Elsevier, vol. 28(3), pages 423-442, March.
  2. Levine, Ross & Loayza, Norman & Beck, Thorsten, 1999. "Financial intermediation and growth : Causality and causes," Policy Research Working Paper Series 2059, The World Bank.
  3. Norman Loayza & Romain Ranciere, 2002. "Financial Development, Financial Fragility, and Growth," CESifo Working Paper Series 684, CESifo Group Munich.
  4. Levine, Ross & Zervos, Sara J, 1993. "What We Have Learned about Policy and Growth from Cross-Country Regressions?," American Economic Review, American Economic Association, American Economic Association, vol. 83(2), pages 426-30, May.
  5. Ross Levine, 2004. "Finance and Growth: Theory and Evidence," NBER Working Papers 10766, National Bureau of Economic Research, Inc.
  6. Luigi Guiso & Paola Sapienza & Luigi Zingales, 2004. "Does Local Financial Development Matter?," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 119(3), pages 929-969, August.
  7. McElroy, Marjorie B., 1977. "Weaker MSE criteria and tests for linear restrictions in regression models with non-spherical disturbances," Journal of Econometrics, Elsevier, Elsevier, vol. 6(3), pages 389-394, November.
  8. Davis, Peter, 2002. "Estimating multi-way error components models with unbalanced data structures," Journal of Econometrics, Elsevier, Elsevier, vol. 106(1), pages 67-95, January.
  9. César Calderón & Lin Liu, 2002. "The Direction of Causality Between Financial Development and Economic Growth," Working Papers Central Bank of Chile, Central Bank of Chile 184, Central Bank of Chile.
  10. Baltagi, Badi H., 1981. "Pooling : An experimental study of alternative testing and estimation procedures in a two-way error component model," Journal of Econometrics, Elsevier, Elsevier, vol. 17(1), pages 21-49, September.
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Cited by:
  1. Jochen Hartwig, 2014. "Testing the Bhaduri-Marglin Model with OECD Panel Data," KOF Working papers, KOF Swiss Economic Institute, ETH Zurich 14-349, KOF Swiss Economic Institute, ETH Zurich.
  2. Fracasso, Andrea, 2014. "A gravity model of virtual water trade," MPRA Paper 54124, University Library of Munich, Germany.
  3. Couharde, Cécile & Sallenave, Audrey, 2013. "How do currency misalignments’ threshold affect economic growth?," Journal of Macroeconomics, Elsevier, Elsevier, vol. 36(C), pages 106-120.
  4. Gaston Giordana & Ingmar Schumacher, 2012. "Macroeconomic Conditions and Leverage in Monetary Financial Institutions: Comparing European countries and Luxembourg," BCL working papers, Central Bank of Luxembourg 77, Central Bank of Luxembourg.
  5. Fink, Gerhard & Haiss, Peter & Vuksic, Goran, 2009. "Contribution of financial market segments at different stages of development: Transition, cohesion and mature economies compared," Journal of Financial Stability, Elsevier, Elsevier, vol. 5(4), pages 431-455, December.
  6. Andini, Monica & Andini, Corrado, 2014. "Finance, growth and quantile parameter heterogeneity," Journal of Macroeconomics, Elsevier, Elsevier, vol. 40(C), pages 308-322.

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