Artikel
Lizenziert
Nicht lizenziert
Erfordert eine Authentifizierung
Interaction Effects in the Relationship Between Growth and Finance
-
Philippe Aghion
Veröffentlicht/Copyright:
22. Mai 2006
This paper analyzes how interacting financial development with initial income, macroeconomic volatility and policy variables, can improve our understanding of convergence and divergence across countries, and also restore the significance of correlations between growth and volatility and therefore between growth and macropolicy, even when controlling for country fixed effects or when eliminating countries with extreme policies or bad institutions.
Keywords: financial development; convergence; volatility; interaction effects; countercyclical policy
Published Online: 2006-5-22
©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston
Sie haben derzeit keinen Zugang zu diesem Inhalt.
Sie haben derzeit keinen Zugang zu diesem Inhalt.
Artikel in diesem Heft
- Article
- How Novelty Aversion Affects Financing Options
- Interaction Effects in the Relationship Between Growth and Finance
- Will Limited Needs Kill Capitalism?
- Discussion and Commentary
- Comments on Papers by Saint-Paul, Aghion, and Bhidé
Schlagwörter für diesen Artikel
financial development;
convergence;
volatility;
interaction effects;
countercyclical policy
Artikel in diesem Heft
- Article
- How Novelty Aversion Affects Financing Options
- Interaction Effects in the Relationship Between Growth and Finance
- Will Limited Needs Kill Capitalism?
- Discussion and Commentary
- Comments on Papers by Saint-Paul, Aghion, and Bhidé
