Contents of the volume

2016, Volume 69 - Issue 4

ISSN: 2499-8265
RSS feed citation: At RePEc
Publication date: 13 October 2016

EMERGING MEGA-INTEGRATION BLOCS: LIMITS AND PROSPECTS

Miroslav N. Jovanovic

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WHY ISN'T EUROPE GROWING?

Matti Viren

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EMU AND THE ANCHORING OF INFLATION EXPECTATIONS

David Mayes, Maritta Paloviita, Matti Viren

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INTERNATIONAL EVIDENCE ON THE FINANCIAL KUZNETS CURVE

Imad Moosa

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COMPARISON OF THE FUNDAMENTAL AND MONETARY MODELS OF THE DETERMINANTS OF THE ARGENTINE PESO/US DOLLAR EXCHANGE RATE

Yu Hsing

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THE IMPACT OF RECENT CRISIS ON THE REAL ESTATE MARKET IN THE UAE: EVIDENCE FROM ASYMMETRIC METHODS

Safa Al-Mohana, Abdulnasser Hatemi-J

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WHAT DRIVES LONG-RUN ECONOMIC GROWTH? EMPIRICAL EVIDENCE FROM SOUTH AFRICA

Themba Chirwa, Nicholas Odhiambo

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Genoa Chamber of Commerce
Economia Internazionale / International Economics

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Corresponding author

Imad MOOSA, School of Economics, Finance and Marketing, RMIT University, Melbourne, Australia

International Evidence on the Financial Kuznets Curve

Pages

365-378

Abstract

The results presented in this study provide cross-sectional evidence on the “financial Kuznets curve”, which is the financial counterpart of the environmental Kuznets curve. It is a representation of the “finance curse”, providing a warning signal against over-dependence on the financial sector. By measuring the degree of financialisation in terms of the ratio of publicly-traded shares to GDP, the results show an inverted U-shaped curve between the GDP growth rate and financialisation. The negative effect of financialisation on growth materialises much more quickly in high growth countries.

JEL classification

G00, G01

Keywords

Environmental Kuznets Curve, Financial Kuznets Curve, Finance Curse, Financialisation

Index

  1. Introduction
  2. The Adverse Effect of Financialisation on Economic Growth
  3. Data and Empirical Results
  4. Conclusion

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