Počet záznamů: 1  

What Type of Finance Matters for Growth? Bayesian Model Averaging Evidence

  1. 1.
    0466516 - ÚTIA 2019 RIV US eng J - Článek v odborném periodiku
    Iftekhar, H. - Horváth, Roman - Mareš, J.
    What Type of Finance Matters for Growth? Bayesian Model Averaging Evidence.
    World Bank Economic Review. Roč. 32, č. 2 (2018), s. 383-409. ISSN 0258-6770. E-ISSN 1564-698X
    Grant CEP: GA ČR GA16-09190S
    Institucionální podpora: RVO:67985556
    Klíčová slova: long-term economic growth * Bayesian model * uncertainty
    Obor OECD: Economic Theory
    Impakt faktor: 1.797, rok: 2018
    http://library.utia.cas.cz/separaty/2017/E/horvath-0466516.pdf

    We examine the effect of finance on long-term economic growth using Bayesian model
    averaging to address model uncertainty in cross-country growth regressions. The literature
    largely focuses on financial indicators that assess the financial depth of banks and
    stock markets. We examine these indicators jointly with newly developed indicators
    that assess the stability and efficiency of financial markets. Once we subject the finance growth
    regressions to model uncertainty, our results suggest that commonly used indicators
    of financial development are not robustly related to long-term growth. However,
    the findings from our global sample indicate that one newly developed indicator-the
    efficiency of financial intermediaries-is robustly related to long-term growth.
    Trvalý link: http://hdl.handle.net/11104/0270593

     
     
Počet záznamů: 1  

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