The DOI matches its Crossref record; 49 of the 49 references it cites were found in a registry or an index.
Financial development, institutional investors, and economic growth
Open accessAbstract
This study analyzes the nonlinear relationship between financial development under the presence of institutional investors (assets in insurance companies, mutual funds, and pension funds, as a percentage of GDP) and economic growth. The analysis considers data on 116 economies obtained from the World Bank for the period 1991–2014. We examine both industrialized and developing economies using a dynamic panel threshold technique. We find that countries below the finance threshold grow less and those above the threshold grow faster. In addition, in the industrialized economies, institutional investors have a positive effect on the growth of GDP per capita.
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“However, our findings are consistent with Deidda and Fattouh (2002), Henderson, Papageorgiou, and Parmeter (2013), Ruiz (2018), and Rahman, Khan, and Charfeddine (2020).”
From How Does Financial Development Impact Economic Growth in Pakistan?: New Evidence from Threshold Model (2020) · cites this paper as Ruiz (2018)
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Cites
Another look at the instrumental variable estimation of error-components models
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Finance and Growth: Schumpeter Might Be Right
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Financial Dependence and Growth
Rajan, R., & Zingales, L. (1996) · National Bureau of Economic Research · doi:10.3386/w5758 · Cited by 7,730
Government Spending in a Simple Model of Endogeneous Growth
Barro, R. J. (1990) · Journal of Political Economy · doi:10.1086/261726 · Cited by 6,340
Threshold effects in non-dynamic panels: Estimation, testing, and inference
Hansen, B. E. (1999) · Journal of Econometrics · doi:10.1016/s0304-4076(99)00025-1 · Cited by 5,260
Financial Development and Economic Growth: Views and Agenda
Levine, R. E. (n.d.) · RePEc: Research Papers in Economics · Cited by 4,687
Financial intermediation and growth: Causality and causes
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Money and Capital in Economic Development.
Luders, R., & McKinnon, R. (1974) · The Journal of Finance · doi:10.2307/2978253 · Cited by 3,711
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Research works printed but not linked: 1
- Curak, 2009, Insurance sector development and economic growth in transition countries, International Research Journal on Finance and Economics, 34, 29
Cited by
Department of Management Sciences, C. U., TARIQ, R., KHAN, M. A., & RAHMAN, A. (2020) · The Journal of Asian Finance, Economics and Business · doi:10.13106/jafeb.2020.vol7.no8.161 · Cited by 51
“However, our findings are consistent with Deidda and Fattouh (2002), Henderson, Papageorgiou, and Parmeter (2013), Ruiz (2018), and Rahman, Khan, and Charfeddine (2020).”
Result
Metadata
- Authors
- Ruiz, J. L.
- Venue
- International Review of Economics & Finance
- Publisher
- Elsevier BV
- Published
- 2018-03
- Volume
- 54
- Pages
- 218-224
- ISSN
- 1059-0560 (ISSN-L)
- OpenAlex
- W2749868651
- Cited by
- 164
- References
- 49
- Citations by year
- 2026: 9 · 2025: 14 · 2024: 15 · 2023: 36 · 2022: 29 · 2021: 22 · 2020: 20 · 2019: 17 · 2018: 2
- FWCI
- 25.06
- Type
- journal article
- Language
- en
- Open access
- Licence
- cc-by-nc-nd
- www.elsevier.com/tdm/userlicense/1.0/ (tdm)
- Locations
- International Review of Economics & Finance (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- Universidad de Chile (submittedVersion, cc-by-nc-nd)
- Topics
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Monetary Policy and Economic Impact
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Productivity
- Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Economic Growth and Development
- Keywords
- financial development, institutional investors, economic growth, nonlinear relationship, threshold effects, insurance companies, mutual funds, pension funds, GDP per capita, industrialized economies, developing countries
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
