FINANCIAL DEVELOPMENT, HUMAN CAPITAL AND POLITICAL STABILITY

J. François Outreville

No 142, UNCTAD Discussion Papers from United Nations Conference on Trade and Development

Abstract: In this paper we take a look at the empirical relationship between the level of financial development and socio-economic variables reflecting different levels of development in the light of the recent literature on the role of human capital in economic development. The empirical results, based on a cross-sectional analysis of 57 developing countries, indicate that human capital and socio-political stability are important factors explaining the level of financial development of these markets.

Date: 1999
New Economics Papers: this item is included in nep-mfd
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Persistent link: https://EconPapers.repec.org/RePEc:unc:dispap:142

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