Title: Stock markets, banks, and growth
Description: Analysis of a panel data set for 1976-98 shows that on balance stock markets and banks positively influence economic growth; findings that do not result from biases induced by simultaneity, omitted variables, or unobserved country-specific effects.
Subjects: Banks and banking, Causation, Econometric models, Economic aspects of Banks and banking, Economic aspects of Stock exchanges, Economic development, Saving and investment, Stock exchanges