Stock market liquidity and economic growth a critical appraisal of the levine/zervos model

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.

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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

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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.