Non-linear Finance-Growth Nexus: A Threshold with Instrumental Variable Approach
學年 97
學期 2
出版（發表）日期 2009-07-01
作品名稱 Non-linear Finance-Growth Nexus: A Threshold with Instrumental Variable Approach
作品名稱（其他語言）
著者 Huang, Ho-Chuan; Lin, Shu-Chin
單位 淡江大學財務金融學系; 淡江大學經濟學系
出版者 Chichester: The European Bank for Reconstruction and Development
著錄名稱、卷期、頁數 Economics of Transition 17(3), pp.439-466
摘要 This paper revisits the question of whether the finance–growth nexus varies with the stages of economic development. Using a novel threshold regression with the instrumental variables approach proposed by Caner and Hansen (2004) to the dataset used in Levine et al. (2000) we detect overwhelming evidence in support of a positive linkage between financial development and economic growth, and this positive effect is larger in the low-income countries than in the high-income ones. The data also reveal that financial development tends to have stronger impacts on capital accumulation and productivity growth in the low-income countries than in the high-income ones. The findings are robust to alternative financial development measures and conditioning information sets.
關鍵字 Financial development; economic growth; instrumental variable; threshold regression
語言 en
ISSN 0967-0750; 1468-0351
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者 Huang, Ho-Chuan
審稿制度
國別 GBR
公開徵稿
出版型式 紙本
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