@techreport{oai:grips.repo.nii.ac.jp:00001347,
 author = {LUINTEL, Kul B and KHAN, Mosahid and LEON-GONZALEZ, Roberto and LI, Guangjie},
 note = {https://www.grips.ac.jp/list/jp/facultyinfo/leon_gonzalez_roberto/, The existing weight of evidence suggests that financial structure (the classification of a financial system as bank-based versus market-based) is irrelevant for economic growth. This contradicts the common belief that the institutional structure of a financial system matters. We re-examine this issue using a novel dataset covering 69 countries over 1989-2011 in a Bayesian framework. Our results are conformable to the belief - a market-based system is relevant - with sizable economic effects for the high-income but not for the middle-and-low-income countries. Our findings provide a counterexample to the weight of evidence. We also identify a regime shift in 2008., JEL Classification Codes: G0, O4, O16},
 title = {Financial Development, Structure and Growth : New Data, Method and Results}
}