Finance and economic growth: new evidence from time series analysis (1961–2009)

References

• Banerjee , A. , Eberhardt , M. and Reade , J. 2010 . Panel estimation for worriers, Economics Series Working Papers 514, Department of Economics, University of Oxford Oxford
   Google Scholar
• Blanco , L. 2009 . The finance-growth link in Latin America . Southern Economic Journal , 76 : 224 – 48 .
   Web of Science ®Google Scholar
• Christopoulos , D. K. and Tsionas , E. G. 2004 . Financial development and economic growth: evidence from panel unit root and cointegration tests . Journal of Development Economics , 73 : 55 – 74 .
   Web of Science ®Google Scholar
• Demirgüç-Kunt , A. and Maksimovic , V. 1998 . Law, finance and firm growth . Journal of Finance , 53 : 2107 – 37 .
   Web of Science ®Google Scholar
• Eberhardt , M. 2012 . Estimating panel time-series models with heterogeneous slopes . The Stata Journal , 12 : 61 – 71 .
   Web of Science ®Google Scholar
• Eberhardt , M. and Teal , F. 2010 . Productivity analysis in global manufacturing production, Economics Series Working Papers 515, Department of Economics, University of Oxford Oxford
   Google Scholar
• Eberhardt , M. and Teal , F. 2011 . Econometrics for grumblers: a new look at the literature on cross-country growth empirics . Journal of Economic Surveys , 25 : 109 – 55 .
   Web of Science ®Google Scholar
• Heston , A. , Summers , R. and Aten , B. 2011 . Penn World Table Version 7.0, Center for International Comparisons of Production, Income and Prices, University of Pennsylvania , Philadelphia, PA .
   Google Scholar
• Kapetanios , G. , Pesaran , M. H. and Yamagata , T. 2011 . Panels with nonstationary multifactor error structures . Journal of Econometrics , 160 : 326 – 48 .
   Web of Science ®Google Scholar
• Levine , R. 2005 . “ Finance and growth: theory and evidence ” . In Handbook of Economic Growth , Edited by: Aghion , P. and Durlauf , S. 865 – 934 . Amsterdam : North Holland .
   Google Scholar
• Levine , R. , Loayza , N. and Beck , T. 2000 . Financial intermediation and growth: causality and causes . Journal of Monetary Economics , 46 : 31 – 77 .
   Web of Science ®Google Scholar
• Pesaran , M. H. 2006 . Estimation and inference in large heterogeneous panels with a multifactor error structure . Econometrica , 74 : 967 – 1012 .
   Web of Science ®Google Scholar
• Rioja , F. and Valev , N. 2004a . Finance and the sources of growth at various stages of economic development . Economic Inquiry , 42 : 127 – 40 .
   Web of Science ®Google Scholar
• Rioja , F. and Valev , N. 2004b . Does one size fit all? A reexamination of the finance and growth relationship . Journal of Development Economics , 74 : 429 – 47 .
   Web of Science ®Google Scholar
• Rousseau , P. L. and Wachtel , P. 2011 . What is happening to the impact of financial deepening on economic growth? . Economic Inquiry , 49 : 276 – 88 .
   Web of Science ®Google Scholar
• World Bank (2012) World Development Indicators. http://data.worldbank.org/data-catalog/world-development-indicators (http://data.worldbank.org/data-catalog/world-development-indicators) (Accessed: 20 August 2012 ).
   Google Scholar