HAL will be down for maintenance from Friday, June 10 at 4pm through Monday, June 13 at 9am. More information
Skip to Main content Skip to Navigation
Preprints, Working Papers, ...

Financial stability and economic performance

Abstract : This paper aims at establishing the link between economic performance, financial depth and financial stability in the European Union from 1998 to 2011. We use the standard framework - both in terms of variables and econometric method - of Beck and Levine (2004) to estimate these relationships. Our results suggest that the traditional result that financial depth positively influences economic performance (or components of aggregate dynamics like consumption, investment or disposable income) is not confirmed for European countries. Furthermore, we use different measures of financial instability (institutional index, microeconomic indicators, and our own statistical index derived from a Principal Component Analysis) and find that financial instability has a negative effect on economic growth.
Document type :
Preprints, Working Papers, ...
Complete list of metadata

Cited literature [45 references]  Display  Hide  Download

https://hal-sciencespo.archives-ouvertes.fr/hal-01064263
Contributor : Spire Sciences Po Institutional Repository Connect in order to contact the contributor
Submitted on : Monday, September 15, 2014 - 11:30:32 PM
Last modification on : Monday, March 21, 2022 - 2:48:11 PM
Long-term archiving on: : Tuesday, December 16, 2014 - 11:51:25 AM

File

wp2013-24.pdf
Files produced by the author(s)

Identifiers

Collections

Citation

Jérôme Creel, Paul Hubert, Fabien Labondance. Financial stability and economic performance. 2013. ⟨hal-01064263⟩

Share

Metrics

Record views

114

Files downloads

4160