What type of finance matters for growth? Bayesian model averaging evidence

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F18%3A10375940" target="_blank" >RIV/00216208:11230/18:10375940 - isvavai.cz</a>

Nalezeny alternativní kódy

RIV/67985556:_____/18:00466516

Výsledek na webu

<a href="https://doi.org/10.1093/wber/lhw029" target="_blank" >https://doi.org/10.1093/wber/lhw029</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1093/wber/lhw029" target="_blank" >10.1093/wber/lhw029</a>

Jazyk výsledku

angličtina

Název v původním jazyce

What type of finance matters for growth? Bayesian model averaging evidence

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

What type of finance matters for growth? Bayesian model averaging evidence

Popis výsledku anglicky

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.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

<a href="/cs/project/GA16-09190S" target="_blank" >GA16-09190S: Finanční sektory, systemové riziko a ekonomické fluktuace</a><br>

Návaznosti

S - Specificky vyzkum na vysokych skolach<br>I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2018

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

World Bank Economic Review

ISSN

0258-6770

e-ISSN

—

Svazek periodika

32

Číslo periodika v rámci svazku

2

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

27

Strana od-do

383-409

Kód UT WoS článku

000434099700008

EID výsledku v databázi Scopus

2-s2.0-85048103682