Countries with more developed financial sectors, experience fewer fluctuations in real per capita output, consumption, and investment growth. But the manner in

This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries. We find

The deregulation of domestic financial markets and the capital account in developing countries has frequently been associated with financial turmoil and macro v

Countries with more developed financial sectors experience fewer fluctuations in real per capita output, consumption, and investment growth. But it matters how

Economic volatility has come into its own after being treated for decades as a secondary phenomenon in the business cycle literature. This evolution has been dr