Resource title

The finance-growth nexus. Market economies vs. transition countries.

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Resource description

Applying a growth accounting framework and a wide range of static and dynamic panel data estimators on a panel covering 22 market economies and 11 transition countries over 1990-2001, we find a weak and fragile finance-growth link in market economies, but strong financial sectorinduced short-run growth effects in transition countries. The main growth effect hereby runs via the productivity channel. Parametric heterogeneity and financial structure seem to play a more important role than hitherto assumed: The financial sector and its different segments trigger different growth effects in different countries. (author's abstract) ; Series: EI Working Papers / Europainstitut

Resource author

Gerhard Fink, Peter Haiss, Hans Christian Mantler

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Resource language

en

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application/pdf

Resource resource URL

http://epub.wu.ac.at/1772/1/document.pdf

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