刊名:Journal of International Financial Markets, Institutions & Money
出版年:2016
出版时间:July 2016
年:2016
卷:43
期:Complete
页码:95-112
全文大小:1080 K
文摘
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The existing weight of evidence is that financial structure is irrelevant for growth.
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We re-examine this issue in a novel panel dataset through a Bayesian approach.
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Structural breaks are explicitly modelled. We find that financial structure matters.
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A market-based system exerts sizable economic effects on high-income countries.
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These findings provide a counterexample to the weight of evidence.
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