Abstract
Using the Solow estimator and the technique introduced by Startz, this paper provides strong evidence that money matters to the determination of aggregate output in three Gulf developing economies. This finding is greatly at variance with that of Startz for the U.S. and suggests the need for further improvements in the financial systems of these countries.
![Does Money Matter in Developing Economies? Some Results from the Solow Estimator](https://erf.org.eg/app/uploads/2015/12/Ali-F.-Darrat-150x150.jpg)
Research Fellows
Ali Darrat
Professor in Finance, Louisiana Tech University, USA