THE FINANCIAL DEVELOPMENT AND GROWTH NEXUS: A META-ANALYSIS

被引：67

作者：

Arestis, Philip ^{[1
,2
]}

Chortareas, Georgios ^{[3
,4
]}

Magkonis, Georgios ^{[5
]}

机构：

[1] Univ Cambridge, Cambridge CB2 1TN, England

[2] Univ Basque Country, Leioa, Vizcaya, Spain

[3] Kings Coll London, London WC2R 2LS, England

[4] Univ Athens, GR-10679 Athens, Greece

[5] Univ Bradford, Bradford BD7 1DP, W Yorkshire, England

来源：

JOURNAL OF ECONOMIC SURVEYS | 2015年 / 29卷 / 03期

关键词：

Financial development; Growth; Meta-analysis; ECONOMIC-GROWTH; STOCK MARKETS; INTERMEDIATION; BANKS; REEXAMINATION; INTEGRATION; INVESTMENT; THRESHOLDS; COUNTRIES; IMPACT;

D O I：

10.1111/joes.12086

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We conduct a meta-analysis of the literature of financial development and economic growth. We cover a large number of empirical studies and estimations that have been published in journal articles. We measure the degree of heterogeneity and identify the causes of the observed differentiation. Among the most significant factors behind this heterogeneity is the choice of financial-variable proxies, the kind of data used as well as whether a study takes into account the issue of endogeneity. Our results suggest that the empirical literature on the finance-growth nexus is not free from publication bias. Also, a genuine positive effect exists between financial development and economic growth.

引用

页码：549 / 565

页数：17

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