New Economics Papers
on Financial Markets
Issue of 2008‒01‒26
three papers chosen by
  1. Impact of US Macroeconomic Surprises on Stock Market Returns in Developed Economies By Brian Lucey, Ali Nejadmalayeri and Manohar Singh
  2. Financial Structure and Economic Growth By Luintel, Kul B; Khan, Mosahid; Arestis, Philip; Theodoridis, Konstantinos
  3. A forewarning indicator system for financial crises: the case of six central and eastern european countries By Irène Andreou; Gilles Dufrénot; Alain Sand-Zantman; Aleksandra Zdzienicka-Durand
  1. By: Brian Lucey, Ali Nejadmalayeri and Manohar Singh
    Date: 2008–01–18
    URL: http://d.repec.org/n?u=RePEc:iis:dispap:iiisdp240&r=fmk
  2. By: Luintel, Kul B (Cardiff Business School); Khan, Mosahid; Arestis, Philip; Theodoridis, Konstantinos (Cardiff Business School)
    Abstract: Recent empirical work on financial structure and economic growth analyzes multicountry dataset in panel and/or cross-section frameworks and conclude that financial structure is irrelevant. We highlight their shortcomings and re-examine this issue utilizing a time series and a dynamic heterogeneous panel methods. Our sample consists of fourteen countries. Tests reveal that cross-country data cannot be pooled. Financial structure significantly explains output levels in most countries. The results are rigorously scrutinized through bootstrap exercises and they are robust to extensive sensitivity tests. We also test for several hypotheses about the prospective role of financial structure and financial development on economic growth.
    Keywords: Financial Structure; Economic Growth; Co-integration; Bootstrap; Dynamic Heterogeneous Panels
    JEL: O16 G18 G28
    Date: 2008–01
    URL: http://d.repec.org/n?u=RePEc:cdf:wpaper:2008/3&r=fmk
  3. By: Irène Andreou; Gilles Dufrénot; Alain Sand-Zantman; Aleksandra Zdzienicka-Durand
    Date: 2007
    URL: http://d.repec.org/n?u=RePEc:fce:doctra:0727&r=fmk
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