Loading...
The financial development and growth nexus: A meta-analysis
Magkonis, Georgios Arestis, P. Chortareas, G.
Magkonis, Georgios
Arestis, P.
Chortareas, G.
Publication Date
2014-08
End of Embargo
Supervisor
Keywords
Rights
© 2014 Wiley This is the peer reviewed version of the following article: Arestis P, Chortareas G and Magkonis G (2014) The financial development and growth nexus: A meta-analysis. Journal of Economic Surveys. 29(3): 549-565, which has been published in final form at http://dx.doi.org/10.1111/joes.12086. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Self-Archiving.
Peer-Reviewed
Yes
Open Access status
openAccess
Accepted for publication
Institution
Department
Awarded
Embargo end date
Collections
Abstract
We conduct a meta-analysis of the literature of financial development and economic growth. We cover a large number of empirical studies and estimations that have been published in journal articles. We measure the degree of heterogeneity and identify the causes of the observed differentiation. Among the most significant factors behind this heterogeneity is the choice of financial-variable proxies, the kind of data used as well as whether a study takes into account the issue of endogeneity. Our results suggest that the empirical literature on the finance–growth nexus is not free from publication bias. Also, a genuine positive effect exists between financial development and economic growth.
Version
Accepted manuscript
Citation
Arestis P, Chortareas G and Magkonis G (2014) The financial development and growth nexus: A meta-analysis. Journal of Economic Surveys. 29(3): 549-565.
Link to publisher’s version
Link to published version
Link to Version of Record
Type
Article