Financial development and long-run growth: is the cross-sectional evidence robust?

Corrado Andini

Applied Economics, 2011, vol. 43, issue 28, 4269-4275

Abstract: In a seminal paper, Levine, Loayza and Beck (LLB, 2000) provide cross-sectional evidence showing that financial development has positive average impact on long-run growth, using a sample of 71 countries. We argue that the evidence is sensitive to the presence of outliers.

Date: 2011
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DOI: 10.1080/00036846.2010.491450

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