Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis

Thresholds of inflation, government size, trade openness, and per capita income for the finance-growth nexus are investigated using five-year averages of standard variables for 84 countries from 1965 to 2004. The results suggest that (i) high inflation crowds out positive effects of financial depth...

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Main Author:	Yilmazkuday, Hakan
Format:	Journal Article
Language:	en_US
Published:	World Bank 2013
Subjects:	diminishing returns disinflation Economic growth economic performance financial crisis GDP growth rate growth theories income levels industrialization inflation inflation rate inflation rates M1 M3 per capita income positive effects property rights regression analysis reserve requirements
Online Access:	http://hdl.handle.net/10986/13475

id	okr-10986-13475
recordtype	oai_dc
spelling	okr-10986-134752021-04-23T14:03:08Z Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis Yilmazkuday, Hakan diminishing returns disinflation Economic growth economic performance financial crisis GDP growth rate growth theories income levels industrialization inflation inflation rate inflation rates M1 M3 per capita income positive effects property rights regression analysis reserve requirements Thresholds of inflation, government size, trade openness, and per capita income for the finance-growth nexus are investigated using five-year averages of standard variables for 84 countries from 1965 to 2004. The results suggest that (i) high inflation crowds out positive effects of financial depth on long-run growth, (ii) small government sizes hurt the finance-growth nexus in low-income countries, while large government sizes hurt high-income countries, (iii) low levels of trade openness are sufficient for finance-growth nexus in high-income countries, but low-income countries need higher levels of trade openness for similar magnitudes of the finance-growth nexus, (iv) catch-up effects through the finance-growth nexus are higher for moderate per capita income levels. 2013-05-20T21:40:45Z 2013-05-20T21:40:45Z 2011-05-31 Journal Article World Bank Economic Review 1564-698X doi:10.1093/wber/lhr011 http://hdl.handle.net/10986/13475 en_US World Bank Economic Review;25(3) CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank World Bank Journal Article
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	en_US
topic	diminishing returns disinflation Economic growth economic performance financial crisis GDP growth rate growth theories income levels industrialization inflation inflation rate inflation rates M1 M3 per capita income positive effects property rights regression analysis reserve requirements
spellingShingle	diminishing returns disinflation Economic growth economic performance financial crisis GDP growth rate growth theories income levels industrialization inflation inflation rate inflation rates M1 M3 per capita income positive effects property rights regression analysis reserve requirements Yilmazkuday, Hakan Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis
relation	World Bank Economic Review;25(3)
description	Thresholds of inflation, government size, trade openness, and per capita income for the finance-growth nexus are investigated using five-year averages of standard variables for 84 countries from 1965 to 2004. The results suggest that (i) high inflation crowds out positive effects of financial depth on long-run growth, (ii) small government sizes hurt the finance-growth nexus in low-income countries, while large government sizes hurt high-income countries, (iii) low levels of trade openness are sufficient for finance-growth nexus in high-income countries, but low-income countries need higher levels of trade openness for similar magnitudes of the finance-growth nexus, (iv) catch-up effects through the finance-growth nexus are higher for moderate per capita income levels.
format	Journal Article
author	Yilmazkuday, Hakan
author_facet	Yilmazkuday, Hakan
author_sort	Yilmazkuday, Hakan
title	Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis
title_short	Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis
title_full	Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis
title_fullStr	Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis
title_full_unstemmed	Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis
title_sort	thresholds in the finance-growth nexus : a cross-country analysis
publisher	World Bank
publishDate	2013
url	http://hdl.handle.net/10986/13475
_version_	1764423581617356800

Thresholds in the Finance-Growth Nexus : A Cross-Country Analysis

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