391
Views
4
CrossRef citations to date
0
Altmetric
Original Articles

Does civil war hamper financial development?

&
Pages 188-207 | Received 24 Apr 2015, Accepted 17 Aug 2015, Published online: 13 Oct 2015

References

  • Acemoglu, Daron, Simon Johnson, and James A. Robinson. 2001. “The Colonial Origins of Comparative Development: An Empirical Investigation.” American Economic Review 91 (5): 1369–1401.10.1257/aer.91.5.1369
  • Addison, Tony, Abdur R. Chowdhury, and S. Mansoob Murshed. 2002. “By How Much Does Conflict Reduce Financial Development?” WIDER Discussion Papers//World Institute for Development Economics (UNU-WIDER), 2002, 48.
  • Arcand, Jean-Louis, Enrico Berkes, and Ugo Panizza. 2012. “Too Much Finance.” International Monetary Fund (IMF) Working Paper 12/161.
  • Arellano, Manuel, and Stephen Bond. 1991. “Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations.” The Review of Economic Studies 58 (2): 277–297.10.2307/2297968
  • Arellano, Manuel, and Olympia Bover. 1995. “Another Look at the Instrumental Variable Estimation of Error-components Models.” Journal of Econometrics 68 (1): 29–51.10.1016/0304-4076(94)01642-D
  • Bagehot, Walter. 1878. Lombard Street: A Description of the Money Market. C. Kegan Paul.
  • Baltagi, Badi H., Panicos O. Demetriades, and Siong Hook Law. 2009. “Financial Development and Openness: Evidence from Panel Data.” Journal of Development Economics 89 (2): 285–296.10.1016/j.jdeveco.2008.06.006
  • Blundell, Richard, and Stephen Bond. 1998. “Initial Conditions and Moment Restrictions in Dynamic Panel Data Models.” Journal of Econometrics 87 (1): 115–143.10.1016/S0304-4076(98)00009-8
  • Carbonnier, Gilles, and Natascha Wagner. 2015. “Resource Dependence and Armed Violence: Impact on Sustainability in Developing Countries.” Defence and Peace Economics 26 (1): 115–132.10.1080/10242694.2013.848580
  • Chinn, Menzie D., and Hiro Ito. 2006. “What Matters for Financial Development? Capital Controls, Institutions, and Interactions.” Journal of Development Economics 81 (1): 163–192.10.1016/j.jdeveco.2005.05.010
  • Collier, Paul. 1999. “On the Economic Consequences of Civil War.” Oxford Economic Papers 51 (1): 168–183.10.1093/oep/51.1.168
  • Fielding, David, and Anja Shortland. 2005. “How Does Political Violence Affect Confidence in a Local Currency? Evidence from Egypt.” Journal of International Development 17 (7): 841–866.10.1002/(ISSN)1099-1328
  • Gleditsch, Nils Petter, Peter Wallensteen, Mikael Eriksson, Margareta Sollenberg, and Håvard Strand. 2002. “Armed Conflict 1946–2001: A New Dataset.” Journal of Peace Research 39 (5): 615–637.10.1177/0022343302039005007
  • Gujarati, Damodar N. 2003. Basic Econometrics. 4th ed. New York: McGraw Hill.
  • Hartmann, Philipp, Florian Heider, Elias Papaioannou, and Marco Lo Duca. 2007. “The Role of Financial Markets and Innovation in Productivity and Growth in Europe.” ECB Occasional Paper No. 72.
  • Heid, Benedikt, Julian Langer, and Mario Larch. 2012. “Income and Democracy: Evidence from System GMM Estimates.” Economics Letters 116 (2): 166–169.10.1016/j.econlet.2012.02.009
  • Howell, Llewellyn D. 2013. The Handbook of Country and Political Risk Analysis. 5th ed. New York: The PRS Group.
  • Kar, Muhsin, Şaban Nazlıoğlu, and Hüseyin Ağır. 2011. “Financial Development and Economic Growth Nexus in the MENA Countries: Bootstrap Panel Granger Causality Analysis.” Economic Modelling 28 (1–2): 685–693.10.1016/j.econmod.2010.05.015
  • King, Robert G., and Ross Levine. 1993a. “Finance, Entrepreneurship and Growth.” Journal of Monetary Economics 32 (3): 513–542.10.1016/0304-3932(93)90028-E
  • King, Robert G., and Ross Levine. 1993b. “Finance and Growth: Schumpeter Might Be Right.” The Quarterly Journal of Economics 108 (3): 717–737.10.2307/2118406
  • Knack, Stephen, and Philip Keefer. 1995. “Institutions and Economic Performance: Cross-country Tests using Alternative Institutional Measures.” Economics & Politics 7 (3): 207–227.
  • Koubi, Vally. 2005. “War and Economic Performance.” Journal of Peace Research 42 (1): 67–82.10.1177/0022343305049667
  • Law, Siong Hook, and Muzafar Shah Habibullah. 2009. “The Determinants of Financial Development: Institutions, Openness and Financial Liberalisation.” South African Journal of Economics 77 (1): 45–58.10.1111/saje.2009.77.issue-1
  • Levine, Ross. 1997. “Financial Development and Economic Growth: Views and Agenda.” Journal of Economic Literature,  35: 688–726.
  • Levine, Ross, Norman Loayza, and Thorsten Beck. 2000. “Financial Intermediation and Growth: Causality and Causes.” Journal of Monetary Economics 46 (1): 31–77.10.1016/S0304-3932(00)00017-9
  • Murdoch, James C., and Todd Sandler. 2002. “Economic Growth, Civil Wars, and Spatial Spillovers.” Journal of Conflict Resolution 46 (1): 91–110.10.1177/0022002702046001006
  • Murshed, Syed Mansoob. 2010. Explaining Civil War: A Rational Choice Approach. Cheltenham: Edward Elgar.
  • Nickell, Stephen. 1981. “Biases in Dynamic Models with Fixed Effects.” Econometrica 1417–1426.10.2307/1911408
  • Odhiambo, Nicholas M. 2009. “Finance-growth-poverty Nexus in South Africa: A Dynamic Causality Linkage.” The Journal of Socio-Economics 38 (2): 320–325.10.1016/j.socec.2008.12.006
  • Patrick, Hugh T. 1966. “Financial Development and Economic Growth in Underdeveloped Countries.” Economic Development and Cultural Change 14 (2): 174–189.10.1086/edcc.1966.14.issue-2
  • Robinson, Joan. 1952. The Generalization of the General Theory, the Rate of Interest and Other Essays. London: Macmillan.
  • Rodrik, Dani, Arvind Subramanian, and Francesco Trebbi. 2004. “Institutions Rule: The Primacy of Institutions Over Geography and Integration in Economic Development.” Journal of Economic Growth 9 (2): 131–165.10.1023/B:JOEG.0000031425.72248.85
  • Roodman, David. 2009. “How to do xtabond2: An Introduction to Difference and System GMM in Stata.” Stata Journal 9 (1): 86–136.
  • Schumpeter, Joseph Alois. 1912. The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle. Cambridge MA: Harvard University Press.
  • Shaw, Edward S. 1973. Financial Deepening in Economic Development. New York: Oxford University Press.
  • Stata Press. 2009. Stata Longitudinal-data/Panel-data Reference Manual: Release 11. College Station, TX: Stata Press.
  • Themnér, Lotta, and Peter Wallensteen. 2013. “Armed Conflict, 1946–2012.” Journal of Peace Research 50 (4): 509–521.10.1177/0022343311415302
  • Tobin, James. 1969. “A General Equilibrium Approach to Monetary Theory.” Journal of Money, Credit and Banking 1 (1): 15–29.10.2307/1991374
  • Wallensteen, Peter, and Margareta Sollenberg. 2001. “Armed Conflict, 1989–2000.” Journal of Peace Research 38 (5): 629–644.10.1177/0022343301038005008
  • Wooldridge, Jeffrey. 2012. Introductory Econometrics: A Modern Approach.  Mason: Cengage Learning.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.