Deakin University
Browse

File(s) not publicly available

What drives financial development? A Meta-regression analysis

journal contribution
posted on 2021-09-01, 00:00 authored by Chris DoucouliagosChris Doucouliagos, Jakob de Haan, Jan-Egbert Sturm
Abstract This article offers a meta-regression analysis of the literature on the drivers of financial development (FD). Our results based on 1,900 estimates suggest that institutional quality is positively correlated to both private sector credit and stock market capitalization (both as share of Gross Domestic Product). Domestic financial openness has a positive effect on both proxies for FD, while trade openness seems only important for stock market capitalization. Inflation has an adverse effect on FD, which is larger for stock market capitalization. Finally, we conclude that the literature has not yet robustly established that remittances matter for FD.

History

Journal

OXFORD ECONOMIC PAPERS-NEW SERIES

Volume

74

Pagination

840-868

Location

Oxford, Eng.

ISSN

0030-7653

eISSN

1464-3812

Language

English

Publication classification

C1 Refereed article in a scholarly journal

Issue

3

Publisher

OXFORD UNIV PRESS

Usage metrics

    Research Publications

    Exports

    RefWorks
    BibTeX
    Ref. manager
    Endnote
    DataCite
    NLM
    DC