| Autor: |
Adolfo Barajas, Ralph Chami, Seyed Reza Yousefi |
| Jazyk: |
angličtina |
| Rok vydání: |
2015 |
| Předmět: |
|
| Zdroj: |
Journal of Banking and Financial Economics, Vol 2016, Iss 1(5), Pp 5-38 (2015) |
| Druh dokumentu: |
article |
| ISSN: |
2353-6845 |
| DOI: |
10.7172/2353-6845.jbfe.2016.1.1 |
| Popis: |
A large theoretical and empirical literature has focused on the impact of fi nancial deepening on economic growth throughout the world. This paper contributes to the literature by investigating whether this impact differs across regions, income levels, and types of economy. Using a rich data set for 150 countries for the period 1975–2005, dynamic panel estimation results suggest that the benefi cial effect of fi nancial deepening on economic growth in fact displays measurable heterogeneity; it is generally smaller in oil exporting countries; in certain regions, such as the Middle East and North Africa (MENA); and in lower-income countries. Further analysis suggests that these differences might be driven by the degree of competition, and related to differences in the ability to provide widespread access to fi nancial services. |
| Databáze: |
Directory of Open Access Journals |
| Externí odkaz: |
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