Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/269984 
Year of Publication: 
2020
Citation: 
[Journal:] Cogent Economics & Finance [ISSN:] 2332-2039 [Volume:] 8 [Issue:] 1 [Article No.:] 1826655 [Year:] 2020 [Pages:] 1-23
Publisher: 
Taylor & Francis, Abingdon
Abstract: 
This paper attempts a re-examination of the relationship between the output volatility and economic growth using an annual data set for select 67 countries for the period 1978 to 2017 spanning over 40 years. Towards this objective cross section and panel, regressions are estimated for different country groups namely developing, industrial, high financially integrated (HFI) and low financially integrated (LFI) country groups. Overall, the results indicate that output volatility as a proxy of macroeconomic volatility has negative effect on economic growth. The results appear to be stronger when we include other control variables as part of an information set. The panel regression results support the negative relationship between economic growth and volatility for the developing countries. The financial development indicator indicates significant relation with growth for industrial economies.
Subjects: 
economic growth
financial development
growth volatility
HP filter
JEL: 
C1
C3
F15
F36
F41
F43
G24
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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