Finance and growth: Schumpeter might be wrong in our era. New evidence from Meta-analysis

Simplice Asongu

MPRA Paper from University Library of Munich, Germany

Abstract: In the first meta-study on the finance-growth nexus, we bridge the gap between Schumpeterian authors and sympathizers of Andersen & Tarp (2003). Over 20 fundamental characteristics that have influenced the debate over the last decades are examined. The empirical evidence is based on 196 outcomes from 20 studies. For the investigated Andersen & Tarp hypotheses, while we find only partial support for their position on the lack of substantial empirical evidence on a positive finance-growth nexus, the stance that a negative nexus is characteristic of African and Latin American countries is strongly rejected. Schumpeter’s thesis might be wrong in our era because of: endogeneity-based estimations, publication bias and, effects of financial activity. A historical justification is also discussed.

Keywords: Meta analysis; Finance; Economic growth; Publication bias (search for similar items in EconPapers)
JEL-codes: C1 C4 E0 O1 (search for similar items in EconPapers)
Date: 2011-08-03, Revised 2013-02-07
New Economics Papers: this item is included in nep-fdg and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/32559/1/MPRA_paper_32559.pdf original version (application/pdf)

Related works:
Working Paper: Finance and growth: Schumpeter might be wrong in our era. New evidence from Meta-analysis (2013)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:32559

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().