Finance and Macroeconomic Volatility

Cevdet Denizer (), Murat Iyigun and Ann Owen

Macroeconomics from University Library of Munich, Germany

Abstract: Countries with more developed financial sectors experience less fluctuations in real per capita output, consumption and investment growth. However, the manner in which the financial sector develops matters. The relative importance of banks in the financial system is important in explaining consumption and investment volatility, and the proportion of credit provided to the private sector explains the volatility of consumption and output. The main results are generated using fixed-effects estimation with panel data from 70 countries covering the years 1956 through 1998.

Keywords: financial development; business cycles; economic fluctuations (search for similar items in EconPapers)
JEL-codes: D31 E32 (search for similar items in EconPapers)
Pages: 22 pages
Date: 2000-06-14
New Economics Papers: this item is included in nep-fin
Note: Type of Document - pdf; prepared on IBM PC ; to print on Postscript; pages: 22 ; figures: tables available in separate file, fincyctbl.pdf
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Citations: View citations in EconPapers (30)

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https://econwpa.ub.uni-muenchen.de/econ-wp/mac/papers/0004/0004015.pdf (application/pdf)

Related works:
Journal Article: Finance and Macroeconomic Volatility (2002)
Working Paper: Finance and macroeconomic volatility (2000)
Working Paper: Finance and macroeconomic volatility (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwpma:0004015

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