Financial Development, Uncertainty and Economic Growth |
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| Authors: | Robert Lensink |
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| Affiliation: | (1) Applied Economics Research Center, University of Karachi, Karachi, Pakistan;(2) Department of Economics, University of Karachi, Karachi, Pakistan |
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| Abstract: | By performing a cross-country growth regression for the 1970-1998 period this paper finds evidence for the fact that the impact of policy uncertainty on economic growth depends on the development of the financial sector. It appears that a higher level of financial development partly mitigates the negative impact of policy uncertainty on economic growth. This clearly indicates the relevance of financial sector development. |
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