Does Money Matter in Developing Economies? Some Results from the Solow Estimator

Ali Darrat () and Y. Al-Yousif
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Y. Al-Yousif: Department of Economics & Finance, CAB, Louisiana Tech University

No 9716, Working Papers from Economic Research Forum

Abstract: Using the Solow estimator and the technique introduced by Startz, this paper provides strong evidence that money matters to the determination of aggregate output in three Gulf developing economies. This finding is greatly at variance with that of Startz for the U.S. and suggests the need for further improvements in the financial systems of these countries.

Date: 1997-09-10, Revised 1997-09-10
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Published by The Economic Research Forum (ERF)

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Persistent link: https://EconPapers.repec.org/RePEc:erg:wpaper:9716

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