Please use this identifier to cite or link to this item: https://hdl.handle.net/11499/25952
Title: Quantile parameter heterogeneity in the finance-growth relation: The case of OECD countries
Authors: Kangallı Uyar, Sinem Güler
Uyar, Umut
Keywords: Financial development
Economic growth
Panel quantile regression
Instrumental variable
Publisher: Prague Economic Papers
Abstract: This paper seeks to investigate the effect of financial development on growth in OECD countries during 1999–2014. The aim of the analysis is to study the dependence of growth on given financial development indicators along quantiles of the conditional growth distribution, taking into account the effect played by each country over time. For the purpose of the empirical analysis, it performed the instrumental variable quantile regression panel data (IV-QRPD) model suggested by Powell (2016). The findings of IV-QRPD model indicated that the effect of finance on growth is changing along quantiles of the conditional growth distribution. That is to say, we provide some evidence that high-growth OECD countries react to the changes in financial development less than low-growth countries.
URI: https://hdl.handle.net/11499/25952
https://doi.org/10.18267/j.pep.646
ISSN: 1210-0455
Appears in Collections:İktisadi ve İdari Bilimler Fakültesi Koleksiyonu
Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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