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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/66349

    Title: Non-linear Finance-Growth Nexus: A Threshold with Instrumental Variable Approach
    Authors: Huang, Ho-Chuan;Lin, Shu-Chin
    Contributors: 淡江大學財務金融學系;淡江大學經濟學系
    Keywords: Financial development;economic growth;instrumental variable;threshold regression
    Date: 2009-07
    Issue Date: 2011-10-22 17:35:15 (UTC+8)
    Publisher: Chichester: The European Bank for Reconstruction and Development
    Abstract: 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.
    Relation: Economics of Transition 17(3), pp.439-466
    DOI: 10.1111/j.1468-0351.2009.00360.x
    Appears in Collections:[Graduate Institute & Department of Economics] Journal Article
    [Graduate Institute & Department of Banking and Finance] Journal Article

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