The effects of financial development on economic sophistication: evidence from panel data

Lan Khanh Chu

Applied Economics Letters, 2020, vol. 27, issue 15, 1260-1263

Abstract: This article empirically examines the effect of financial development on economic sophistication, measured by Economic Complexity Index. Using a panel dataset of 94 countries from 1968 to 2015 and system generalized method of moments estimation, we find that both banking sector and stock market development have positive effects on economic sophistication.

Date: 2020
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DOI: 10.1080/13504851.2019.1676866

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