Financial Development, Trade Openness and Growth in the First Wave of Globalization

Did financial development and international trade reinforce each other and drive economic growth more than a century ago? We investigate these linkages among 17 countries during the first wave of economic globalization (1850-1929). Cross-country dynamic panels as well as VARs and VECMs for individual countries indicate that financial development led both trade and growth at this time, while trade largely responded to financial development

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Year of publication:	2016
Authors:	D'Onofrio, Alexandra
Other Persons:	Rousseau, Peter L. (contributor)
Publisher:	[2016]: [S.l.] : SSRN
Subject:	Wirtschaftswachstum \| Economic growth \| Welt \| World \| Globalisierung \| Globalization \| Handelsliberalisierung \| Trade liberalization \| Finanzmarktregulierung \| Financial market regulation \| Finanzmarkt \| Financial market \| Internationale Wirtschaft \| International economy

Extent:	1 Online-Ressource (14 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments July 2, 2016 erstellt
Other identifiers:	10.2139/ssrn.2804072 [DOI]
Classification:	N10 - Macroeconomics and Monetary Economics; Growth and Fluctuations. General, International, or Comparative ; N20 - Financial Markets and Institutions. General, International, or Comparative ; E44 - Financial Markets and the Macroeconomy
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012987644