Download This PaperThe Effect of Financial Development on Economic Sophistication: Evidence from Panel Data
5 Pages Posted: 5 Apr 2019
Date Written: March 14, 2019
Abstract
This paper examines the effect of financial development on economic sophistication. We use domestic credit to private sectors and stock market liquidity variables to measure financial development and Economic Complexity Index to measure the economic sophistication. Using a panel data set of 97 countries from 1968 to 2015 and system generalized method of moments estimation, we find that financial development has a positive effect on economic sophistication.
Keywords: financial development, economic complexity, panel data
JEL Classification: E44, G10, O1
Suggested Citation: Suggested Citation
Chu Khanh, Lan, The Effect of Financial Development on Economic Sophistication: Evidence from Panel Data (March 14, 2019). Available at SSRN: https://ssrn.com/abstract=3352387 or http://dx.doi.org/10.2139/ssrn.3352387
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