메뉴 건너뛰기




Volumn 23, Issue 3, 2009, Pages 339-348

Financial markets and economic performances: Empirical evidence from five industrialized economies

Author keywords

Causality testing; Financial markets; VARs

Indexed keywords


EID: 67649968178     PISSN: 02755319     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.ribaf.2008.12.002     Document Type: Article
Times cited : (45)

References (39)
  • 1
    • 0000383942 scopus 로고
    • An improved heteroskedasticity and autocorrection consistent covarience matrix estimator
    • Andrews D.W.K., and Monahan J.C. An improved heteroskedasticity and autocorrection consistent covarience matrix estimator. Econometrica 60 (1992) 953-966
    • (1992) Econometrica , vol.60 , pp. 953-966
    • Andrews, D.W.K.1    Monahan, J.C.2
  • 2
    • 67649905746 scopus 로고    scopus 로고
    • Bank of Japan, 2000. Outline of the BOJ's foreign exchange intervention operations. www.boj.or.jp/en/about/basic/etc/faqkainy.htm.
    • Bank of Japan, 2000. Outline of the BOJ's foreign exchange intervention operations. www.boj.or.jp/en/about/basic/etc/faqkainy.htm.
  • 3
    • 0000196911 scopus 로고
    • The stock market and investment
    • Barro R.J. The stock market and investment. Rev. Financ. Stud. 3 (1990) 115-131
    • (1990) Rev. Financ. Stud. , vol.3 , pp. 115-131
    • Barro, R.J.1
  • 4
    • 0345060538 scopus 로고    scopus 로고
    • Why Japan needs to develop its corporate bond market
    • Batten J., and Szilagyi P. Why Japan needs to develop its corporate bond market. Int. J. Econ. Bus. 10 1 (2003) 83-108
    • (2003) Int. J. Econ. Bus. , vol.10 , Issue.1 , pp. 83-108
    • Batten, J.1    Szilagyi, P.2
  • 5
    • 67649908059 scopus 로고    scopus 로고
    • Beck, T., Levine, R.E., 2002. Stock markets, banks, and growth: panel evidence. Available at SSRN: http://ssrn.com/abstract=314904 or doi:10.2139/ssrn.314904. Retrieved: January 05, 2008.
    • Beck, T., Levine, R.E., 2002. Stock markets, banks, and growth: panel evidence. Available at SSRN: http://ssrn.com/abstract=314904 or doi:10.2139/ssrn.314904. Retrieved: January 05, 2008.
  • 6
    • 8344232421 scopus 로고
    • Some consequences of credit rationing in an endogenous growth model
    • Bencivenga V.R., and Smith B.D. Some consequences of credit rationing in an endogenous growth model. J. Econ. Dyn. Control 17 (1993) 97-122
    • (1993) J. Econ. Dyn. Control , vol.17 , pp. 97-122
    • Bencivenga, V.R.1    Smith, B.D.2
  • 7
    • 18944373107 scopus 로고    scopus 로고
    • Financial development, financing choice and economic growth
    • Blackburn K., Bose N., and Capasso S. Financial development, financing choice and economic growth. Rev. Dev. Econ. 9 2 (2005) 135-149
    • (2005) Rev. Dev. Econ. , vol.9 , Issue.2 , pp. 135-149
    • Blackburn, K.1    Bose, N.2    Capasso, S.3
  • 8
    • 0034032249 scopus 로고    scopus 로고
    • Equity, bonds and bank debt: Capital structure and financial market equilibrium under asymmetric information
    • Bolton P., and Frexias X. Equity, bonds and bank debt: Capital structure and financial market equilibrium under asymmetric information. J. Polit. Econ. 2 208 (2000) 324-351
    • (2000) J. Polit. Econ. , vol.2 , Issue.208 , pp. 324-351
    • Bolton, P.1    Frexias, X.2
  • 9
    • 0002519023 scopus 로고    scopus 로고
    • Have individual stocks become more volatile? An empirical exploration of idiosyncratic risk
    • Campbell J., Lettau M., Malkiel B.G., and Xu Y. Have individual stocks become more volatile? An empirical exploration of idiosyncratic risk. J. Financ. 56 (2001) 1-43
    • (2001) J. Financ. , vol.56 , pp. 1-43
    • Campbell, J.1    Lettau, M.2    Malkiel, B.G.3    Xu, Y.4
  • 10
    • 67649932119 scopus 로고    scopus 로고
    • Stock Market Development and Economic Growth
    • United Nations University
    • Capasso, S., 2006. Stock Market Development and Economic Growth. WIDER Research Paper Series 102, United Nations University.
    • (2006) WIDER Research Paper Series , vol.102
    • Capasso, S.1
  • 11
    • 85071217992 scopus 로고    scopus 로고
    • Are financial deepening and economic growth causally related? Another look at the evidence
    • Darrat A.F. Are financial deepening and economic growth causally related? Another look at the evidence. Int. Econ. J. 13 (1999) 19-35
    • (1999) Int. Econ. J. , vol.13 , pp. 19-35
    • Darrat, A.F.1
  • 14
    • 0040842699 scopus 로고
    • Corporate capital structure: the control roles of bank and public debt with taxes and costly bankruptcy
    • Diamond D. Corporate capital structure: the control roles of bank and public debt with taxes and costly bankruptcy. Fed. Reserve Bank Richmond Econ. Q. 80 (1994) 11-37
    • (1994) Fed. Reserve Bank Richmond Econ. Q. , vol.80 , pp. 11-37
    • Diamond, D.1
  • 15
    • 33749009107 scopus 로고
    • Stock return, real activity, inflation, and money
    • Fama E.F. Stock return, real activity, inflation, and money. Am. Econ. Rev. 71 (1981) 545-565
    • (1981) Am. Econ. Rev. , vol.71 , pp. 545-565
    • Fama, E.F.1
  • 19
    • 67649918181 scopus 로고    scopus 로고
    • Financial sector macro efficiency-concepts, measurement, theoretical and empirical evidence
    • Balling M., Lierman F., and Mullineux A. (Eds), Routledge, London and New York
    • Fink G., Haiss P., and Mantler H.C. Financial sector macro efficiency-concepts, measurement, theoretical and empirical evidence. In: Balling M., Lierman F., and Mullineux A. (Eds). Financial Markets in Central and Eastern Europe: Stability and Efficiency (2004), Routledge, London and New York
    • (2004) Financial Markets in Central and Eastern Europe: Stability and Efficiency
    • Fink, G.1    Haiss, P.2    Mantler, H.C.3
  • 24
    • 67649940698 scopus 로고    scopus 로고
    • Osaka University, Graduate School of Economics and OSIPP Working Paper No. 05-08. Available at SSRN:, Retrieved: August 02, 2007
    • Horii, R., Ohdoi, R., Yamamoto, K., 2005. Finance, Technology and Inequality in Economic Development. Osaka University, Graduate School of Economics and OSIPP Working Paper No. 05-08. Available at SSRN: http://ssrn.com/abstract=702884. Retrieved: August 02, 2007.
    • (2005) Finance, Technology and Inequality in Economic Development
    • Horii, R.1    Ohdoi, R.2    Yamamoto, K.3
  • 25
    • 0345510809 scopus 로고
    • Statistical analysis of cointegration vectors
    • Johansen S. Statistical analysis of cointegration vectors. J. Econ. Dyn. Control 12 (1988) 231-254
    • (1988) J. Econ. Dyn. Control , vol.12 , pp. 231-254
    • Johansen, S.1
  • 26
    • 0000158117 scopus 로고
    • Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models
    • Johansen S. Estimation and hypothesis testing of cointegration vectors in Gaussian vector autoregressive models. Econometrica 59 (1991) 1551-1580
    • (1991) Econometrica , vol.59 , pp. 1551-1580
    • Johansen, S.1
  • 27
    • 84981621724 scopus 로고
    • Determination of cointegration rank in the presence of a linear trend
    • Johansen S. Determination of cointegration rank in the presence of a linear trend. Oxford Bull. Econ. Stat. 54 (1992) 383-397
    • (1992) Oxford Bull. Econ. Stat. , vol.54 , pp. 383-397
    • Johansen, S.1
  • 28
    • 84981579311 scopus 로고
    • Maximum likelihood estimation and inference on cointegration, with applications to the demand for money
    • Johansen S., and Juselius K. Maximum likelihood estimation and inference on cointegration, with applications to the demand for money. Oxford Bull. Econ. Stat. 52 (1990) 169-210
    • (1990) Oxford Bull. Econ. Stat. , vol.52 , pp. 169-210
    • Johansen, S.1    Juselius, K.2
  • 29
    • 34247482883 scopus 로고
    • Finance and growth: Schumpeter might be right
    • King R.G., and Levine R. Finance and growth: Schumpeter might be right. Q. J. Econ. 108 (1993) 717-737
    • (1993) Q. J. Econ. , vol.108 , pp. 717-737
    • King, R.G.1    Levine, R.2
  • 30
    • 0003093394 scopus 로고    scopus 로고
    • Financial intermediation and growth: causality and causes
    • Levine R., Loayza N., and Beck T. Financial intermediation and growth: causality and causes. J. Monetary Econ. 46 (2000) 31-77
    • (2000) J. Monetary Econ. , vol.46 , pp. 31-77
    • Levine, R.1    Loayza, N.2    Beck, T.3
  • 31
    • 0346613552 scopus 로고    scopus 로고
    • Stock markets, banks, and growth
    • Levine R., and Zervos S. Stock markets, banks, and growth. Am. Econ. Rev. 88 3 (1998) 537-558
    • (1998) Am. Econ. Rev. , vol.88 , Issue.3 , pp. 537-558
    • Levine, R.1    Zervos, S.2
  • 33
    • 67649917440 scopus 로고    scopus 로고
    • Mckinnon, R.I., 1998. In: Ranis, Schultz, T.P. (Eds.), Financial liberalisation in retrospect: Interest rate policies in LCD's. 386-410.
    • Mckinnon, R.I., 1998. In: Ranis, Schultz, T.P. (Eds.), Financial liberalisation in retrospect: Interest rate policies in LCD's. 386-410.
  • 34
    • 0000631178 scopus 로고
    • A note with quantiles of the asymptotic distribution of the maximum likelihood cointegration rank test statistic
    • Osterwald-Lenum M. A note with quantiles of the asymptotic distribution of the maximum likelihood cointegration rank test statistic. Oxford Bull. Econ. Stat. 54 (1992) 461-472
    • (1992) Oxford Bull. Econ. Stat. , vol.54 , pp. 461-472
    • Osterwald-Lenum, M.1
  • 35
    • 0000275069 scopus 로고    scopus 로고
    • Equity markets and growth: cross-country evidence on timing and outcomes, 1980-1995
    • Rousseau P.L., and Wachtel P. Equity markets and growth: cross-country evidence on timing and outcomes, 1980-1995. J. Bank. Financ. 24 (2000) 1933-1957
    • (2000) J. Bank. Financ. , vol.24 , pp. 1933-1957
    • Rousseau, P.L.1    Wachtel, P.2
  • 37


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.