THE FINANCIAL DEVELOPMENT AND GROWTH NEXUS: A META‐ANALYSIS
对金融发展与经济增长关系的实证文献进行元分析，发现存在发表偏倚，但两者间确实存在正向效应。
Abstract We conduct a meta‐analysis of the literature of financial development and economic growth. We cover a large number of empirical studies and estimations that have been published in journal articles. We measure the degree of heterogeneity and identify the causes of the observed differentiation. Among the most significant factors behind this heterogeneity is the choice of financial‐variable proxies, the kind of data used as well as whether a study takes into account the issue of endogeneity. Our results suggest that the empirical literature on the finance–growth nexus is not free from publication bias. Also, a genuine positive effect exists between financial development and economic growth.