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Identifier to cite or link to this item: https://hdl.handle.net/10086/72451

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Title
The Finance-Growth Nexus in Latin America and the Caribbean: A Meta-Analytic Perspective
Creator
Creator Name
Iwasaki, Ichiro Iwasaki, Ichiro
Affiliation
Affiliation Name
Hitotsubashi University
Editor
Contributor Name
Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University
Key Word
financial development and liberalization
economic growth
meta-analysis
publication selection bias
Latin America and the Caribbean
JEL
E44
G10
O11
O16
O54
Abstract
This paper performs a meta-analysis of the effect of financial development and liberalization on macroeconomic growth in Latin America and the Caribbean using a total of 233 estimates collected from 21 previous works. Meta-synthesis of the collected estimates demonstrates that it is probable that financial development and liberalization enhance economic growth in the region, and these policy measures have the potential to have a meaningful impact on the real economy. The synthesis results also reveal that the choice of financial variables significantly affects reported estimates in the literature. Meta-regression analysis of literature heterogeneity and test for publication selection bias produce findings that are compatible with the synthesis results. The test results of publication selection bias also confirm that the existing literature contains genuine empirical evidence of the growth-promoting effect of finance in the region.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2021-10
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
CEI Working Paper Series, No. 2021-04
Relation
Related Identifier
URI
  http://cei.ier.hit-u.ac.jp/English/index.html
Number of Pages
37
Sponsorship
This research was supported financially by the Japan Center for Economic Research (JCER) andthe Zengin Foundation for Studies on Economics and Finance.
Appears in Collections
CEI Working Paper Series
URL
https://hdl.handle.net/10086/72451