Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 12, 2001 erstellt
Description:
This paper tests for and estimates single-equation non-dynamic panel threshold relationships among inflation, financial market development (FMD) and growth. This trivariate relationship changes across a sttistically robust inflation threshold of about 14%. Below 14%, the relationship between growth and FMD is positive; above 14%, the relationship between growth and inflation is negative. The interaction between FMD has a significant impact however: below 14% there is a positive correlation between growth and inflation, but marginal increases in inflation impair the relationship between growth and FMD; above 14% marginal increases in inflation have little or no impact on this relationship