[1] C. Alonso-Borrego and M. Arellano, Symmetrically normalized
instrumental-variable estimation using panel data, Journal of Business
Economic Statistics 17 (1999), 36-49.
[2] T. W. Anderson and C. Hsiao, Estimation of dynamic models with
error components, J. Amer. Stat. Assoc. 76 (1981), 598-606.
[3] T. W. Anderson and C. Hsiao, Formulation and estimation of dynamic
models using panel data, Journal of Econometrics 18 (1982), 47-82.
[4] M. Arellano and S. Bond, Some tests of specification for panel
data: Monte carlo evidence and an application to employment equations,
Review of Economic Studies 58 (1991), 277-297.
[5] M. Arellano and O. Bover, Another look at the
instrumental-variable estimation of error-components models, Journal
of Econometrics 68 (1995), 29-51.
[6] J. Benhabib and M. M. Spiegel, The financial development in growth
and investment, Journal of Economic Growth 5 (2000), 341-360.
[7] R. Blundell and S. Bond, Initial conditions and moment
restrictions in dynamic panel data models, Journal of Econometrics 87
(1998), 115-143.
[8] R. Blundell and S. Bond, GMM estimation with persistent panel
data: An application to production functions, Econometric Reviews 19
(2000), 321-340.
[9] S. Bond, A. Hoeffler and J. Temple, GMM estimation of empirical
growth models, CEPR discussion paper no. 3048 (2001).
[10] S. Bond, Dynamic panel data models: A guide to micro data methods
and practice, Portuguese Economic Journal 1 (2002), 141-162.
[11] C. G. Bowsher, On testing over identifying restrictions in
dynamic panel data models, Economics Letters 77 (2002), 211-220.
[12] F. Caselli, G. Esquivel and F. Lefort, Reopening the convergence
debate: A new look at cross-country growth empirics, Journal of
Economic Growth 1(3) (1996), 363-390.
[13] G. Chamberlain, Panel data, Handbook of Econometrics, Elsevier
Science, vol. 2, Chapter 22 (1984), 1247-1318.
[14] A. Demirgüç-Kunt and R. Levine, Stock markets, corporate
finance, and economic growth: An overview, The Worldbank Economic
Review 10(2) (1996), 223-240.
[15] A. Demirgüç-Kunt and R. Levine, Bank-based and market-based
financial systems: Cross-country comparisons, The Worldbank Policy
Research working paper no. 2143 (1999).
[16] Sourafel Girma and Anja K. Shortland, The political economy of
financial development, Oxford Economic Papers 60(4) (2008),
567-596.
[17] A. Heston, R. Summers and B. Aten, Penn World Table version 6.2,
Center for International Comparisons at the University of Pennsylvania
(CICUP), 2006.
[18] D. Holtz-Eakin, W. Newey and H. S. Rosen, Estimation vector
autoregressions with panel data, Econometrica 56(6) (1988),
1371-1395.
[19] N. Islam, Growth empirics: A panel data approach, Quarterly
Journal of Economics 110 (1995), 1127-1170.
[20] H. Kruiniger, Maximum likelihood estimation and inference methods
for the covariance stationary panel AR(1)/unit root model, Journal of
Econometrics 144(2) (2008), 447-464.
[21] R. Levine, N. Loayza and T. Beck, Financial intermediation and
growth: Causality and causes, Journal of Monetary Economics 46(1)
(2000), 31-77.
[22] N. G. Mankiw, D. Romer and D. N. Weil. A contribution to the
empirics of economic growth, Quarterly Journal of Economics 107
(1992), 407-437.
[23] L. Ndikumana, Financial determinants of domestic investment in
Sub-Saharan Africa: Evidence from panel data, World Development 28(2)
(2000), 381-400.
[24] L. Ndikumana, Financial development, financial structure, and
domestic investment: International evidence, Journal of International
Money and Finance 24 (2005), 651-673.
[25] Whitney Newey and Frank Windmeijer, Generalized method of moments
with many weak moment conditions, Econometrica 77(3) (2009),
687-719.
[26] L. E. Papke and J. M. Wooldridge, A computational trick for
delta-method standard errors, Economic Letters 86 (2005), 413-417.
[27] S. Schich and F. Pelgrin, Financial development and investment:
Panel data evidence for OECD countries from 1970-1997, Applied
Economics Letters 9 (2002), 1-7.
[28] F. Windmeijer, A finite sample correction for the variance of
linear efficient two-step GMM estimators, Journal of Econometrics
126(1) (2005), 25-51.
[29] World Bank, Global Development Network (2002).
[30] World Bank, Financial Development and Financial Structure
Database (2008).