Levine and Zervos presented crosscountry econometric evidence showing that, in a sample of 47 countries, stock market liquidity contributed a significant positive influence on GDP growth between We show that the Levine-Zervos results are not robust to alternative specifications because of the incomplete manner in which they control for outliers in their data.
We show that when one properly controls for outliers, stock market liquidity no longer exerts any statistically observable influence on GDP growth. Stock Market Liquidity and Economic Growth: Showing of 16 references.
Stock Market Liquidity and Economic Growth: A Critical Appraisal of the Levine/Zervos Model by Andong Zhu, Michael Ash, Robert Pollin :: SSRN
Release 7, College Station, TX: Stock Markets, Banks, and Growth: Panel Evidence Thorsten Beck , Ross Levine From Miracle to Crisis to Recovery: Lessons from Four Decades of East Asian Experience Rethinking the East Asian Miracle. The Rise of " The Rest ": Challenges to the West from Late-Industrializing Economies.
Challenges to the West…. The East Asian Miracle: Economic Growth and Public Policy Appendix: Alternative Regression Specifications and Outliers. Excludes Taiwan and Korea.
Full sample—With dummy variable for the 5 Tigers. Showing of 8 extracted citations. How Big Is Too Big?
Stock Market Liquidity and Economic Growth: A Critical Appraisal of the Levine/Zervos Model
On the Social Efficiency of the Financial Sector in the United States REEARCH INITUTE , Gerald Epstein , James Crotty , Thomas Weisskopf , Robert Pollin Effect of finance on growth through more efficient utilization of technological innovations Pasi Ikonen , Suomen Pankin Consumption Smoothing Across States and Time: Foreign Loans George M. Securities Transaction Taxes for U. Financial Markets Robert Pollin , Marc Schaberg , James Tobin Trends in the Rentier Income Share in Oecd Countries, Dorothy Power , Gerald Epstein , Matthew Abrena Financial Markets Workingpaper Series Securities Transaction Taxes for U.
Financial Markets Robert Pollin , Dean Baker , Marc Schaberg The Allen Institute for Artificial Intelligence Proudly built by AI2 with the help of our Collaborators using these Sources.