Financial development and economic complexity: The role of country stability
Hermann Ndoya,
Bruno Emmanuel Ongo Nkoa,
Francis Hypolite Kemeze
et al.
Abstract:The aim of this paper is to examine the relationships between financial development (FD), economic complexity and country stability. To achieve this objective, this paper applies a finite mixture model to a sample of 92 developing countries over the period 1995–2018. The study posits that the effect of FD on economic complexity differs across groups of countries with similar but unobserved characteristics. The study finds that the effect of FD on economic complexity varies across four classes of countries, whi… Show more
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