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dc.contributor.authorGraff, Michaelen_US
dc.contributor.authorKarmann, Alexanderen_US
dc.date.accessioned2011-07-13T10:43:54Z-
dc.date.available2011-07-13T10:43:54Z-
dc.date.issued2001en_US
dc.identifier.urihttp://hdl.handle.net/10419/48121-
dc.description.abstractTo clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a structural equation path models is estimated. In the modeling part, poverty traps result from large fixed costs or high proportions of real investment to run a financial sector. Human capital allocated to financial activities will improve long-run levels but may reduce growth rates in the short run. Empirically, based on data for 93 countries during the 1980–90 period, it is shown that during the 1980s finance was predominantly a supply-leading determinant of economic growth. Our analysis suggests, however, that this general finding cannot be confirmed for the less developed countries, thereby giving some support to the conclusions derived from the theoretical modeling.en_US
dc.language.isoengen_US
dc.publisherTechn. Univ., Fak. Wirtschaftswiss. Dresdenen_US
dc.relation.ispartofseriesDresden discussion paper in economics 01/01en_US
dc.subject.jelO16en_US
dc.subject.jelO42en_US
dc.subject.jelE24en_US
dc.subject.ddc330en_US
dc.subject.keywordfinancial developmenten_US
dc.subject.keywordeconomic growthen_US
dc.subject.keywordfinancial sectoren_US
dc.subject.keywordcausalityen_US
dc.subject.stwFinanzsektoren_US
dc.subject.stwEntwicklungen_US
dc.subject.stwFinanzintermediären_US
dc.subject.stwNeue Wachstumstheorieen_US
dc.subject.stwSchätzungen_US
dc.subject.stwTheorieen_US
dc.subject.stwWelten_US
dc.subject.stwEntwicklungsländeren_US
dc.titleDoes financial activity cause economic growth?en_US
dc.typeWorking Paperen_US
dc.identifier.ppn328043052en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
dc.identifier.repecRePEc:zbw:tuddps:0101-
Appears in Collections:Dresden Discussion Paper Series in Economics, Faculty of Business and Economics, TU Dresden

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