To what extent financial development is important in promoting economic growth in OECD countries

This paper revisits the relationship between economic growth and the main determinants of financial development in The Organisation for Economic Co-operation and Development (OECD) countries during the period 1990-2016. Using a random effects model, we provide empirical evidence of different aspects of financial development in order to show which of these characteristics of financial development help to explain economic growth in OEDC countries in terms of finances through a panel data model for the period examined. We pay special attention to the main determinants of the financial system and verify their influence on economic growth even when we control for other key country-level factors relating to economic growth. Results show that an increase in domestic credit provided by financial-sector, in market capitalization and in the turnover ratio of domestic shares entails a significant positive effect on the Gross Domestic Product (GDP) per capita. Among other socioeconomic determinants related to economic growth, expenditure in education, the inflation and unemployment rates appear highly significant in the economic growth of the analysed countries.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

Financial development and economic growth: a study for OECD countries in the context of crisis

The aim of this paper is to study the relationship between economic growth and the main determinants of financial development in developed countries during the period 1990-2016. Using a random effects model, we provide empirical evidence of different aspects of financial development in order to show which of these characteristics of financial development help to explain economic growth in developed countries, particularly in OEDC countries in terms of finances through a panel data model and a dynamic model for the period examined. Paying special attention to the main determinants of the financial system and verify their influence on economic growth even when we control for other key country-level factors relating to economic growth. We conclude that an increase in domestic credit provided by financial-sector, in market capitalization and in the turnover ratio of domestic shares entails a significant positive effect on the GDP per capita. Among other socioeconomic determinants related to economic growth, expenditure in education, the inflation and unemployment rates seem highly significant in the economic growth of the analysed countries.Universidad de Málaga. Campus de Excelencia Internacional Andalucía Tech

Breakdown and asymptotic properties of resampled estimates

In this paper we study the breakdown and asymptotic properties of resampled t-estimates. We find that they retain the finite breakdown point of the exact estimator. We also study their consistency and their order of convergence under nonstandard assumptions on the loss functions

Controlling the ellipticity of attosecond pulses produced by laser irradiation of overdense plasmas

The interaction of high-intensity laser pulses and solid targets provides a promising way to create compact, tunable and bright XUV attosecond sources that can become a unique tool for a variety of applications. However, it is important to control the polarization state of this XUV radiation, and to do so in the most efficient regime of generation. Using the relativistic electronic spring (RES) model and particle-in-cell (PIC) simulations, we show that the polarization state of the generated attosecond pulses can be tuned in a wide range of parameters by adjusting the polarization and angle of incidence of the laser radiation. In particular, we demonstrate the possibility of producing circularly polarized attosecond pulses in a wide variety of setups.Comment: 6 pages, 3 figure