The Finance-Growth Nexus in Europe: A Comparative Meta-Analysis of Emerging Markets and Advanced Economies

Shigeki Ono and Ichiro Iwasaki

Eastern European Economics, 2022, vol. 60, issue 1, 1-49

Abstract: This paper performs a meta-analysis of the effect on economic growth of financial development and liberalization in European emerging markets and compares with that in European advanced economies. A meta-synthesis of 893 estimates extracted from 45 studies suggests that finance in emerging markets has a positive effect on growth. Furthermore, our findings indicate that the synthesized effect size in emerging markets was smaller than that in advanced economies. Results from meta-regression analysis and test for publication selection bias, however, show that some synthesis results cannot be reproduced when literature heterogeneity and publication selection bias are taken into consideration.

Date: 2022
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Working Paper: The Finance-Growth Nexus in Europe: A Comparative Meta-Analysis of Emerging Markets and Advanced Economies (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:mes:eaeuec:v:60:y:2022:i:1:p:1-49

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DOI: 10.1080/00128775.2021.2006067

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