Value at risk and economic growth

被引：2

作者：

Galindo Martín M.-A. ^{[1
]}

Sotos F.E. ^{[2
]}

Picazo M.T.M. ^{[3
]}

机构：

[1] University of Castilla-La Mancha, Pozuelo de Alarcon, Madrid 28224

[2] University of Castilla-La Mancha, 16071 Cuenca

[3] Facultad de Ciencias Económicas y Empresariales, University Complutense

来源：

International Advances in Economic Research | 2007年 / 13卷 / 2期

关键词：

Economic growth; Efficiency; Human capital; Risk;

D O I：

10.1007/s11294-006-9060-0

中图分类号：

学科分类号：

摘要：

The improvement of data statistics as well as the econometrician methods have facilitated the introduction the new variables and factors I the economic growth analysis. In this sense, real variables have mainly been considered in the economic growth studies, but not financial or risk management aspects. In this sense, it is interesting to analyze the relationship between economic growth and value at risk and the feed-back process. The goal of the paper is to analyze the relationship between economic growth and risk management and the feed-back process. We will consider economic variables, including economic growth, rule of law, human capital, fiscal policy and monetary policy, among others, in our analysis. We will analyze the theoretical relationships between these variables and risk and the effects of risk on economic growth. We will also develop an empirical analysis considering the case of 15 European Union countries. © International Atlantic Economic Society 2007.

引用

页码：214 / 221

页数：7

共 21 条

[1]

Acemoglu D., Zilibotti F., Was prometheus unbound by chance? Risk, diversification, and growth, Journal of Political Economy, 105, pp. 709-751, (1997)

[2]

Aghion P., Caroli E., Garcia-Penalosa C., Inequality and economic growth: The perspective of the new growth theories, Journal of Economic Literature, 37, pp. 1615-1660, (1999)

[3]

Arrow K.J., Essays in the Theory of Risk-Bearing, (1971)

[4]

Beck T., Levine R., Loayza N., Finance and the sources of growth, Journal of Financial Economics, 58, 1, pp. 261-300, (2000)

[5]

Bencivenga V.R., Smith B.D., Financial intermediation and endogenous growth, Review of Economic Studies, 58, 2, pp. 195-209, (1991)

[6]

Chen N., Roll R., Ross S.A., Economic forces and stock market, The Journal of Business, 59, 3, pp. 120-132, (1986)

[7]

Devereux M.B., Smith G.W., International risk sharing and economic growth, International Economic Review, 35, 3, pp. 535-550, (1994)

[8]

Escribano F., Galindo M.-A., Mendez M.T., Risk and economic growth: The case of OECD countries, Next Economic Growth. New Factors and New Perspectives, pp. 81-94, (2006)

[9]

Greenwood J., Jovanovic B., Financial development, growth, and the distribution of income, Journal of Political Economy, 98, 5, pp. 1076-1107, (1990)

[10]

Greenwood J., Smith B., Financial markets in development and the development of financial markets, Journal of Economic Dynamics and Control, 21, 1, pp. 145-186, (1997)

← 1 2 3 →