This paper examines 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. These indicators are examined jointly with newly developed indicators that assess the stability and efficiency of financial markets. Once the finance-growth regressions...
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INFORMATION
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2016/04/18
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Document de travail de recherche sur les politiques
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WPS7645
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1
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1
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2016/04/18
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Disclosed
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What type of finance matters for growth ? Bayesian model averaging evidence
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stock market