[PDF] Top 20 Intermediaries, Financial Markets and Growth: Some more International Evidence

... the financial system development and economic growth, measured as GDP growth, fixed capital formation or the productivity of production ...the financial system are credit, intermediary ... See full document

... between Financial Depth (FD) and Economic Growth (EG) was remounts to the early of XIX century, when Schumpeter (1912), Robinson (1952), Goldsmith (1969), McKinnon (1973) and Shaw (1973) were, ... See full document

... an international portfolio, it is still possible to enrich its return to ...of international portfolio diversification are better off when investor diversifies into developing countries, instead of ... See full document

... capita growth rate in a certain period, and independent variables are different indicators of financial system development and various control ...analysis and time-series analysis have ... See full document

... future and overestimate the accuracy of their data. Experimental evidence presented by Aldrighi and Milanez [28] indicates that in a sampling in which agents were instructed to point out the ... See full document

... or, more precisely in most cases, the regional expan- sion of Western banks via some of their locally-owned subsidiaries (see Sörg et ...Estonia and Latvia, 32% in Lithuania, 63% in Poland, 60% in ... See full document

... Fratzscher and Rigobon (2005) examine financial transmission channels between asset classes in both the ...U.S and the Euro area using a VAR ...find evidence that asset prices react strongest ... See full document

... debt and equity. Kashiap and Stein (2000) provide strong evidence towards the existence of a bank lending ...liquidity and capital are the usual indicators adopted in the literature to control ... See full document

... Nonetheless, some authors do not think that the positive relationship between finance and growth is clear and that it can be rather complex or even ...of financial factors is overstated ... See full document

... of more recent studies. Sullivan, Timmermann and White (2001) use a non traditional approach (a bootstrap procedure) and conclude that calendar effects no longer remain statistically ...Mabberly ... See full document

... of financial liberalization process. Gurley & Shaw (1955, 1967) and Goldsmith (1969) explored the importance of financial development in economic ...that financial development leads to ... See full document

... reduction, financial stability and economic development of migrant sending countries (Ratha, 2003; The World Bank, 2005; Maimbo and Ratha, ...family and relatives or to start new businesses in ... See full document

... Financial intermediaries as of microfinance institutions represent a significant source of funds in emerging ...sustainable growth rates above the average of the ...about financial ... See full document

... di¤erent approaches became apparent during the height of the …nancial crisis when events in the currency market assumed historical propor- tions. 4 Figure 1.1 shows the performance of three popular Deutsche Bank ETFs ... See full document

... finance and growth. The author argues that financial development can impact the level of growth by facilitating and improving the allocation of resources, across space and time ... See full document

... Investors, financial institutions and regulators are interested in understanding what are the main determinants of value in real estate markets, measuring appropriate returns and risks related ... See full document

... Italy and Portugal) using a sample of 5964 firms during the period ...short-term and that maintain better relationships with financial institutions exhibit lower cash to assets ...expenditures ... See full document

... • Real variables – Output – Consumption – Investment • Financial variables – Equity prices – House prices – Interest rates – Credit 18.. Measuring Spillovers[r] ... See full document

... endogenous growth model, but he is not analyzing the speed of ...economies and growth, which concentrates more on trade in ...Grossman and Helpman (1991) for the effects of trade in the ... See full document

... productivity and efficiency, which influence positively on the ...sheets and this is in serious conflict with knowledge economy where the basis of knowledge of established on knowledge (Boekestein, ... See full document