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Financial development and economic growth: a panel approach


  • P. J. Dawson


This article examines the finance-growth nexus for a panel of less developed countries using panel cointegration methods. The financial development elasticity of gross domestic product is 0.46, and this varies little between broad income groups.

Suggested Citation

  • P. J. Dawson, 2010. "Financial development and economic growth: a panel approach," Applied Economics Letters, Taylor & Francis Journals, vol. 17(8), pages 741-745.
  • Handle: RePEc:taf:apeclt:v:17:y:2010:i:8:p:741-745 DOI: 10.1080/13504850802314411

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    References listed on IDEAS

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    5. Murnane, Richard J & Willett, John B & Levy, Frank, 1995. "The Growing Importance of Cognitive Skills in Wage Determination," The Review of Economics and Statistics, MIT Press, vol. 77(2), pages 251-266, May.
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    7. Jeffrey S. Zax & Daniel I. Rees, 2002. "IQ, Academic Performance, Environment, and Earnings," The Review of Economics and Statistics, MIT Press, vol. 84(4), pages 600-616, November.
    8. Sanders Korenman & Christopher Winship, 1995. "A Reanalysis of The Bell Curve," NBER Working Papers 5230, National Bureau of Economic Research, Inc.
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    Cited by:

    1. Samargandi, Nahla & Fidrmuc, Jan & Ghosh, Sugata, 2015. "Is the Relationship Between Financial Development and Economic Growth Monotonic? Evidence from a Sample of Middle-Income Countries," World Development, Elsevier, vol. 68(C), pages 66-81.
    2. Simplice A, Asongu, 2011. "Finance and growth: Schumpeter might be wrong in our era. New evidence from Meta-analysis," MPRA Paper 32559, University Library of Munich, Germany, revised 07 Feb 2013.
    3. repec:eco:journ1:2017-04-34 is not listed on IDEAS
    4. Samargandi, Nahla & Kutan, Ali M., 2016. "Private credit spillovers and economic growth: Evidence from BRICS countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 44(C), pages 56-84.

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