期刊論文

標題 Financial structure on growth and volatility
學年 102
學期 1
出版(發表)日期 2013/09/01
作品名稱 Financial structure on growth and volatility
作品名稱(其他語言)
著者 Yeh, Chih-Chuan; Huang, Ho-chuan; Lin, Pei-Chien
單位 淡江大學產業經濟學系
出版者 Amsterdam: Elsevier BV * North-Holland
著錄名稱、卷期、頁數 Economic Modelling 35, p.391–400
摘要 By applying the pooled mean group estimator to a large panel up to 40 countries over the 1960–2009 period, this study finds that financial structure is significantly cointegrated to both economic growth and its volatility. In particular, the relationship is positive in nature, suggesting that more market-based countries enjoy faster economic growth but suffer more from economic fluctuations in the long run. Accordingly, in sharp contrast to the existing evidences,we conclude that the architecture of an economy's financial systemmatters for real sector performance. Moreover, the findings are robust to a variety of sensitivity checks, including the problem of endogeneity, the use of different financial structure (and growth volatility) indicators, the inclusion of extra growth (volatility) determinants, and the control of cross-sectional dependence in the panel data.
關鍵字 Financial structure;Economic growth;Growth volatility;Pooled mean group estimator
語言 英文(美國)
ISSN 0264-9993
期刊性質 國外
收錄於 SSCI;
產學合作
通訊作者 Huang, Ho-Chuan(River)
審稿制度
國別 荷蘭
公開徵稿
出版型式 ,電子版,紙本