Développement financier, ouverture commerciale et croissance durant la première vague de mondialisation

Alexandra D’Onofrio and Peter Rousseau
Authors registered in the RePEc Author Service: Alexandra D'Onofrio

Revue d'économie financière, 2017, vol. N° 127, issue 3, 135-146

Abstract: Did financial development and international trade reinforce each other and drive economic growth more than a century ago? We investigate these linkages among 17 countries during the first wave of economic globalization (1850-1929). Cross-country dynamic panels as well as VARs and VECMs for individual countries indicate that financial development led both trade and growth at this time, while trade largely responded to financial development. Classification JEL: , C32, F10, N11, N13, O40.

JEL-codes: C32 F10 N11 N13 O40 (search for similar items in EconPapers)
Date: 2017
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