Capital control liberalization and stock market development
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Each is checked against this paper’s own text: does it say what the citing paper says it does?
Banks and stock markets provide different services to the economy, as each measure enters positively and significantly in growth regressions.
“Critically, these findings suggest that banks and markets provide different services to the economy, as each measure enters positively and significantly.”
From Finance, Growth, and Inequality (2021) · cites this paper as Levine and Zervos (1998)
Banking and market finance are complementary: the positive effect of bank credit on growth is larger when stock markets are deeper.
“Furthermore, they confirm earlier findings (e.g., Levine and Zervos 1998) that banking and market finance are complementary: the positive effect of bank credit on growth is larger when stock markets are deeper.”
From Finance, Growth, and Inequality (2021) · cites this paper as Levine and Zervos 1998
Stock market size, measured by market capitalization divided by GDP, is not robustly correlated with growth, capital accumulation, or productivity improvements.
“LZ also show that stock market size, as measured by market capitalization divided by GDP, is not robustly correlated with growth, capital accumulation, and productivity improvements.”
From Finance, Growth, and Inequality (2021) · cites this paper as Levine and Zervos (1998)
The exogenous components of stock market liquidity and bank development help explain economic growth.
“They confirm the Levine and Zervos (1998) findings using panel methods: the exogenous components of stock market liquidity and bank development help explain economic growth.”
From Finance, Growth, and Inequality (2021) · cites this paper as Levine and Zervos (1998)
Cited by
Sorted by citations
Chapter 12 Finance and Growth: Theory and Evidence
Levine, R. (2005) · Handbook of Economic Growth · doi:10.1016/s1574-0684(05)01012-9 · Cited by 2,889 · see citing works
Self-citationDoes financial liberalization spur growth?
BEKAERT, G., HARVEY, C., & LUNDBLAD, C. (2005) · Journal of Financial Economics · doi:10.1016/j.jfineco.2004.05.007 · Cited by 2,012 · see citing works
Do stock market liberalizations cause investment booms?
Henry, P. B. (2000) · Journal of Financial Economics · doi:10.1016/s0304-405x(00)00073-8 · Cited by 864 · see citing works
Financial globalization: A reappraisal
Kose, M. A., Prasad, E., Rogoff, K., & Wei, S.-J. (2009) · IMF Staff Papers · doi:10.1057/imfsp.2008.36 · Cited by 956 · see citing works
Choong, C.-K., Baharumshah, A. Z., Yusop, Z., & Habibullah, M. S. (2010) · Japan and the World Economy · doi:10.1016/j.japwor.2009.07.001 · Cited by 182 · see citing works
Finance, Growth, and Inequality
Levine, R. (2021) · IMF Working Papers · doi:10.5089/9781513583365.001 · Cited by 62 · see citing works
Self-citationFinancial Markets and Economic Development in Africa
Ndikumana, L. (2003) · doi:10.2139/ssrn.333321 · Cited by 43 · see citing works
- Authors
- Levine, R., & Zervos, S.
- Affiliations
- University of Virginia (US)
- ORCID
- Levine, Ross
- Venue
- World Development
- Publisher
- Elsevier BV
- Published
- 1998-07
- Volume
- 26
- Issue
- 7
- Pages
- 1169-1183
- ISSN
- 0305-750X (ISSN-L)
- OpenAlex
- W2062848406
- Cited by
- 489
- References
- 0
- Citations by year
- 2026: 5 · 2025: 11 · 2024: 9 · 2023: 41 · 2022: 16 · 2021: 14 · 2020: 36 · 2019: 16 · 2018: 16 · 2017: 20 · 2016: 29 · 2015: 25 · 2014: 17 · 2013: 24 · 2012: 20
- FWCI
- 11.86
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- World Development (publishedVersion)
- Topics
- Social Sciences › Economics, Econometrics and Finance › Finance › Global Financial Crisis and Policies
- Social Sciences › Economics, Econometrics and Finance › Finance › Finance, Markets, and Regulation
- Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Monetary Policy and Economic Impact
- Keywords
- stock market development, stock market size, stock liquidity, stock market volatility, international capital market integration, disclosure regulation, accounting standards, investor protection, emerging markets
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
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