IDEAS home Printed from https://ideas.repec.org/p/wbk/wbrwps/2059.html

ɇ‘Èž ĸ­Ä»‹Ä¸Žç» Ƶžå¢Žé•¿Ï¼Šå› Æžœå…³Ç³»Ä¸Žåžÿå›

Author

Listed:
  • Levine, Ross
  • Loayza, Norman
  • Beck, Thorsten

Abstract

è¿›è¡Œæ³•å¾‹ä¸Žä¼šè®¡æ”¹é ©ï¼Œå¼ºåŒ–å€ºæ ƒäººæ ƒåˆ©ã€ å ˆå Œæ‰§è¡ŒåŠ›å’Œä¼šè®¡å‡†åˆ™ï¼Œå ¯ä»¥ä¿ƒè¿›é‡‘èž å ‘å±•å¹¶åŠ é€Ÿç» æµŽå¢žé•¿ã€‚ Levine〠Loayzaå’ŒBeck考察了以下问题： é‡‘èž ä¸­ä»‹çš„å ‘å±•æ°´å¹³ï¼Œæ˜¯å ¦å¯¹ç» æµŽå¢žé•¿æœ‰å› æžœæ€§è´¨çš„å½±å“ ï¼Ÿ ä¸ å Œå›½å®¶åœ¨æ³•å¾‹å’Œä¼šè®¡ä½“ç³»æ–¹é ¢çš„å·®å¼‚ï¼ˆä¾‹å¦‚å€ºæ ƒäººæ ƒåˆ©ã€ å ˆå Œæ‰§è¡ŒåŠ›ä»¥å Šä¼šè®¡å‡†åˆ™ï¼‰ï¼Œæ˜¯å ¦èƒ½å¤Ÿè§£é‡Šé‡‘èž å ‘å±•æ°´å¹³çš„ä¸ å Œï¼Ÿ å Œæ—¶ï¼Œä½¿ç”¨ä¼ ç»Ÿçš„è·¨éƒ¨é—¨çš„å·¥å…·å ¯å ˜çš„ç ”ç©¶æ–¹æ³•ï¼ˆinstrumental-variable proceduresï¼‰å’Œæ–°è¿‘çš„åŠ¨æ€ è¯„ä¼°æŠ€æœ¯ï¼Œä»–ä»¬å ‘çŽ°ï¼šé‡‘èž ä¸­ä»‹çš„å ‘å±•å¯¹ç» æµŽå¢žé•¿æœ‰ç €å·¨å¤§çš„å› æžœæ„ ä¹‰çš„å½±å“ ã€‚ è¿™äº›æ•°æ ®å Œæ—¶è¡¨æ˜Žï¼Œä¸ å Œå›½å®¶åœ¨æ³•å¾‹å’Œä¼šè®¡ä½“ç³»æ–¹é ¢çš„å·®å¼‚ï¼Œå¯¹å…¶ä¸ å Œçš„é‡‘èž å ‘å±•æ°´å¹³æœ‰ç €è¾…åŠ©æ€§å½±å“ ã€‚ ç»¼ä¸Šï¼Œè¿™äº›å ‘çŽ°è¡¨æ˜Žï¼šè¿›è¡Œæ³•å¾‹ä¸Žä¼šè®¡æ”¹é ©ï¼Œå¼ºåŒ–å€ºæ ƒäººæ ƒåˆ©ã€ å ˆå Œæ‰§è¡ŒåŠ›å’Œä¼šè®¡å‡†åˆ™ï¼Œå ¯ä»¥ä¿ƒè¿›é‡‘èž å ‘å±•å¹¶åŠ é€Ÿç» æµŽå¢žé•¿ã€‚

Suggested Citation

  • Levine, Ross & Loayza, Norman & Beck, Thorsten, 1999. "ɇ‘Èž ĸ­Ä»‹Ä¸Žç» Ƶžå¢Žé•¿Ï¼Šå› Æžœå…³Ç³»Ä¸Žåžÿå›," Policy Research Working Paper Series 2059, The World Bank.
    • Handle: RePEc:wbk:wbrwps:2059
    as

    Download full text from publisher

    File URL: https://documents.worldbank.org/curated/en/376201468765621624/pdf/IBArchive-29af2835-7f0a-423f-93db-2eefecbefe0b.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Mark Gertler, 1988. "Financial structure and aggregate economic activity: an overview," Proceedings, Federal Reserve Bank of Cleveland, pages 559-596.
    2. Valerie R. Bencivenga & Bruce D. Smith, 1991. "Financial Intermediation and Endogenous Growth," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 195-209.
    3. Jith Jayaratne & Philip E. Strahan, 1996. "The Finance-Growth Nexus: Evidence from Bank Branch Deregulation," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 111(3), pages 639-670.
    4. Alonso-Borrego, Cesar & Arellano, Manuel, 1999. "Symmetrically Normalized Instrumental-Variable Estimation Using Panel Data," Journal of Business & Economic Statistics, American Statistical Association, vol. 17(1), pages 36-49, January.
    5. Arellano, Manuel & Bover, Olympia, 1995. "Another look at the instrumental variable estimation of error-components models," Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
    6. Greenwood, Jeremy & Jovanovic, Boyan, 1990. "Financial Development, Growth, and the Distribution of Income," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 1076-1107, October.
    7. Edward J. Kane, 1989. "How Incentive-Incompatible Deposit-Insurance Funds Fail," NBER Working Papers 2836, National Bureau of Economic Research, Inc.
    8. R. Glenn Hubbard, 1991. "Financial Markets and Financial Crises," NBER Books, National Bureau of Economic Research, Inc, number glen91-1, January.
    9. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 717-737.
    10. Shleifer, Andrei & Vishny, Robert W, 1997. "A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-783, June.
    11. William Easterly & Ross Levine, 1997. "Africa's Growth Tragedy: Policies and Ethnic Divisions," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(4), pages 1203-1250.
    12. Ross Levine, 1997. "Financial Development and Economic Growth: Views and Agenda," Journal of Economic Literature, American Economic Association, vol. 35(2), pages 688-726, June.
    13. La Porta, Rafael & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1997. "Legal Determinants of External Finance," Journal of Finance, American Finance Association, vol. 52(3), pages 1131-1150, July.
    14. Rajan, Raghuram G & Zingales, Luigi, 1998. "Financial Dependence and Growth," American Economic Review, American Economic Association, vol. 88(3), pages 559-586, June.
    15. Demirguc-Kunt, Asli & Maksimovic, Vojislav, 1996. "Financial constraints, uses of funds, and firm growth : an international comparison," Policy Research Working Paper Series 1671, The World Bank.
    16. Stephen Knack & Philip Keefer, 1995. "Institutions And Economic Performance: Cross‐Country Tests Using Alternative Institutional Measures," Economics and Politics, Wiley Blackwell, vol. 7(3), pages 207-227, November.
    17. Holtz-Eakin, Douglas & Newey, Whitney & Rosen, Harvey S, 1988. "Estimating Vector Autoregressions with Panel Data," Econometrica, Econometric Society, vol. 56(6), pages 1371-1395, November.
    18. Ben Bernanke & Mark Gertler, 1990. "Financial Fragility and Economic Performance," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 105(1), pages 87-114.
    19. Klaus Neusser & Maurice Kugler, 1998. "Manufacturing Growth And Financial Development: Evidence From Oecd Countries," The Review of Economics and Statistics, MIT Press, vol. 80(4), pages 638-646, November.
    20. Charles W. Calomiris & Gary Gorton, 1991. "The Origins of Banking Panics: Models, Facts, and Bank Regulation," NBER Chapters, in: Financial Markets and Financial Crises, pages 109-174, National Bureau of Economic Research, Inc.
    21. Boyd, John H. & Prescott, Edward C., 1986. "Financial intermediary-coalitions," Journal of Economic Theory, Elsevier, vol. 38(2), pages 211-232, April.
    22. Hansson, Pontus & Jonung, Lars, 1997. "Finance and economic growth: the case of Sweden 1834-1991," Research in Economics, Elsevier, vol. 51(3), pages 275-301, September.
    23. Perkins, Edwin J., 1981. "The Cost of Good Intentions: New York City and the Liberal Experiment. By Charles R. Morris. New York: W. W. Norton & Company, Inc., 1980. Pp. 256. $14.95," The Journal of Economic History, Cambridge University Press, vol. 41(1), pages 250-250, March.
    24. Fajnzylber, Pablo & Lederman, Daniel & Loayza, Norman, 2002. "What causes violent crime?," European Economic Review, Elsevier, vol. 46(7), pages 1323-1357, July.
    25. Blundell, Richard & Bond, Stephen, 1998. "Initial conditions and moment restrictions in dynamic panel data models," Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
    26. Fischer, Stanley, 1993. "The role of macroeconomic factors in growth," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 485-512, December.
    27. Levine, Ross & Zervos, Sara, 1998. "Stock Markets, Banks, and Economic Growth," American Economic Review, American Economic Association, vol. 88(3), pages 537-558, June.
    28. Hicks, J. R., 1969. "A Theory of Economic History," OUP Catalogue, Oxford University Press, number 9780198811633.
    29. Charles W. Calomiris, 1989. "Deposit insurance: lessons from the record," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 13(May), pages 10-30.
    30. Chamberlain, Gary, 1984. "Panel data," Handbook of Econometrics, in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 22, pages 1247-1318, Elsevier.
    31. Levine, Ross & Renelt, David, 1992. "A Sensitivity Analysis of Cross-Country Growth Regressions," American Economic Review, American Economic Association, vol. 82(4), pages 942-963, September.
    32. Easterly, William & Rebelo, Sergio, 1993. "Fiscal policy and economic growth: An empirical investigation," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 417-458, December.
    33. Douglas W. Diamond, 1984. "Financial Intermediation and Delegated Monitoring," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 51(3), pages 393-414.
    34. Williamson, Stephen D, 1987. "Financial Intermediation, Business Failures, and Real Business Cycles," Journal of Political Economy, University of Chicago Press, vol. 95(6), pages 1196-1216, December.
    35. Bernanke, Ben & Gertler, Mark, 1989. "Agency Costs, Net Worth, and Business Fluctuations," American Economic Review, American Economic Association, vol. 79(1), pages 14-31, March.
    36. Rousseau, Peter L & Wachtel, Paul, 1998. "Financial Intermediation and Economic Performance: Historical Evidence from Five Industrialized Countries," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 30(4), pages 657-678, November.
    37. Edward J. Kane, 1985. "The Gathering Crisis in Federal Deposit Insurance," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262611856, December.
    38. King, Robert G. & Levine, Ross, 1993. "Finance, entrepreneurship and growth: Theory and evidence," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 513-542, December.
    39. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert W. Vishny, 1998. "Law and Finance," Journal of Political Economy, University of Chicago Press, vol. 106(6), pages 1113-1155, December.
    40. Asli Demirgüç-Kunt & Ms. Enrica Detragiache, 1997. "The Determinants of Banking Crises: Evidence From Developing and Developed Countries," IMF Working Papers 1997/106, International Monetary Fund.
    41. Levine, Ross, 1998. "The Legal Environment, Banks, and Long-Run Economic Growth," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 30(3), pages 596-613, August.
    42. Caselli, Francesco & Esquivel, Gerardo & Lefort, Fernando, 1996. "Reopening the Convergence Debate: A New Look at Cross-Country Growth Empirics," Journal of Economic Growth, Springer, vol. 1(3), pages 363-389, September.
    43. Robert C. Merton, 1992. "Financial Innovation And Economic Performance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 4(4), pages 12-22, January.
    44. Kroszner, Randall S & Strahan, Philip E, 1996. "Regulatory Incentives and the Thrift Crisis: Dividends, Mutual-to-Stock Conversions, and Financial Distress," Journal of Finance, American Finance Association, vol. 51(4), pages 1285-1319, September.
    45. Mr. Francesco Grigoli & Alexander Herman & Klaus Schmidt-Hebbel, 2014. "World Saving," IMF Working Papers 2014/204, International Monetary Fund.
    46. Manuel Arellano & Stephen Bond, 1991. "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
    47. Paolo Mauro, 1995. "Corruption and Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 110(3), pages 681-712.
    48. Barro, Robert J & Lee, Jong Wha, 1996. "International Measures of Schooling Years and Schooling Quality," American Economic Review, American Economic Association, vol. 86(2), pages 218-223, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ross Levine & Norman Loayza & Thorsten Beck, 2002. "Financial Intermediation and Growth: Causality and Causes," Central Banking, Analysis, and Economic Policies Book Series, in: Leonardo Hernández & Klaus Schmidt-Hebbel & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Se (ed.),Banking, Financial Integration, and International Crises, edition 1, volume 3, chapter 2, pages 031-084, Central Bank of Chile.
    2. Beck, Thorsten & Levine, Ross & Loayza, Norman, 2000. "Finance and the sources of growth," Journal of Financial Economics, Elsevier, vol. 58(1-2), pages 261-300.
    3. Levine, Ross, 1999. "Law, Finance, and Economic Growth," Journal of Financial Intermediation, Elsevier, vol. 8(1-2), pages 8-35, January.
    4. Levine, Ross, 1997. "Napoleon, Bourses, and Growth in Latin America," IDB Publications (Working Papers) 6093, Inter-American Development Bank.
    5. Ross Levine, 1997. "Napoleón, bolsas y crecimiento en América Latina," Research Department Publications 4107, Inter-American Development Bank, Research Department.
    6. Riccardo Lucchetti & Luca Papi & Alberto Zazzaro, 2001. "Banks’ Inefficiency and Economic Growth: A Micro‐Macro Approach," Scottish Journal of Political Economy, Scottish Economic Society, vol. 48(4), pages 400-424, September.
    7. Riccardo LUCCHETTI & Luca PAPI & Alberto ZAZZARO, 1999. "Efficienza del sistema bancario e crescita economica nelle regioni italiane," Working Papers 121, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    8. Denizer Cevdet A. & Iyigun Murat F. & Owen Ann, 2002. "Finance and Macroeconomic Volatility," The B.E. Journal of Macroeconomics, De Gruyter, vol. 2(1), pages 1-32, October.
    9. Levine, Ross, 2005. "Finance and Growth: Theory and Evidence," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 12, pages 865-934, Elsevier.
    10. Thorsten Beck, 2009. "The Econometrics of Finance and Growth," Palgrave Macmillan Books, in: Terence C. Mills & Kerry Patterson (ed.), Palgrave Handbook of Econometrics, chapter 25, pages 1180-1209, Palgrave Macmillan.
    11. Jean-Pierre Allegret & Sana Azzabi, 2014. "Intégration financière internationale et croissance économique dans les pays émergents et en développement : le canal du développement financier," Revue d’économie du développement, De Boeck Université, vol. 22(3), pages 27-68.
    12. James B. Ang, 2008. "A Survey Of Recent Developments In The Literature Of Finance And Growth," Journal of Economic Surveys, Wiley Blackwell, vol. 22(3), pages 536-576, July.
    13. Levine, Ross & Zervos, Sara, 1998. "Stock Markets, Banks, and Economic Growth," American Economic Review, American Economic Association, vol. 88(3), pages 537-558, June.
    14. Lee, Bong-Soo, 2012. "Bank-based and market-based financial systems: Time-series evidence," Pacific-Basin Finance Journal, Elsevier, vol. 20(2), pages 173-197.
    15. Beck, Thorsten & Levine, Ross, 2001. "Stock markets, banks, and growth : correlation or causality?," Policy Research Working Paper Series 2670, The World Bank.
    16. Naoko Kojo, 2000. "Bangladesh : Financial Sector Distress and Lost Economic Growth," World Bank Publications - Reports 15476, The World Bank Group.
    17. Ahlin, Christian & Pang, Jiaren, 2008. "Are financial development and corruption control substitutes in promoting growth?," Journal of Development Economics, Elsevier, vol. 86(2), pages 414-433, June.
    18. Papaioannou, Elias, 2007. "Finance and growth: a macroeconomic assessment of the evidence from a European angle," Working Paper Series 787, European Central Bank.
    19. Boyd, John H. & Levine, Ross & Smith, Bruce D., 2001. "The impact of inflation on financial sector performance," Journal of Monetary Economics, Elsevier, vol. 47(2), pages 221-248, April.
    20. Gehringer, Agnieszka, 2013. "Financial liberalization, financial development and productivity growth: An overview," Economics Discussion Papers 2013-46, Kiel Institute for the World Economy (IfW Kiel).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:wbk:wbrwps:2059. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Roula I. Yazigi (email available below). General contact details of provider: https://edirc.repec.org/data/dvewbus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.