%0 Report
        %A Campos, Nauro F.
%A Karanasos, Menelaos G.
%A Tan, Bin
        %T Two to Tangle: Financial Development, Political Instability and Economic Growth in Argentina (1896–2000)
        %D 2008
        %8 2008 Oct
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 3752
        %U https://www.iza.org/index.php/publications/dp3752
        %X This paper investigates the effects of financial development and political instability on economic growth in a power-ARCH framework with data for Argentina from 1896 to 2000. Our findings suggest that (i) informal or unanticipated political instability (e.g., guerrilla warfare) has a direct negative impact on growth; (ii) formal or anticipated instability (e.g., cabinet changes) has an indirect (through volatility) impact on growth; (iii) the effect of financial development is positive and, surprisingly, not via volatility; (iv) the informal instability effects are much larger in the short- than in the long-run; and (v) the impact of financial development on economic growth is negative in the short- but positive in the long-run.
        %K volatility
%K financial development
%K economic growth
%K political instability
%K power-ARCH