growth in Taiwan. We find that the breakpoint obtained by Gregory and Hansen (1996) appears in the third quarter of 1982 … turned positive after financial openness, suggesting that appropriate volatility enhances Taiwan's economic growth under the … excess liquidity that impeded economic growth. Our long-run results are essentially the same even if we take the role of the …

economic growth is often associated with increasing financial deepening. In light of these developments, it is important to … investigate the relationship between financial development and economic growth. This study applies a model developed by Levine in … ratios on economic growth. We apply a Hausman’s specification test to examine the fixed and random effects in the panel data …

. Growth is sustained by the development of new varieties of intermediate goods. Innovation is risky and the probability of … faster growth. Under plausible assumptions, the resulting changes in factor prices lower the relative cost of monitoring …

. On the basis of observed growth in sectoral value added output, we calculate for each state the efficient frontier for … volatility of state output growth, rather than in its average. The realized industry shares of output also converge faster to …

. On the basis of observed growth in sectoral value-added output, we calculate for each state the efficient frontier for … primarily from convergence in the volatility of state output growth, rather than in its average. The realized industry shares of …

A competitive stock market is embedded into a neoclassical growth economy to analyze the interplay between the … economic growth by raising total factor productivity, but its impact is only transitory. Several predictions on the evolution …

In this paper we review the literature on finance-growth nexus and investigate the causality between financial … development and economic growth in Turkey for the period 1975-2004. The empirical investigation is carried out in a vector … development and economic growth. The empirical findings in the paper show a two way causality (bidirectional) between financial …

? We argue that if this was the case, financially developed countries should see faster growth in industries with … investment opportunities due to global demand and productivity shifts. Testing this cross-industry cross-country growth …

We examine the non-linearity between financial development and economic growth in China. Specifically, we use a … on growth in high-income provinces, but a strong negative impact on growth in low-income provinces. The results are … to have a negative impact on economic growth. …