11 Arestis P, Demetriades P O, Luintel K B. Financial development and economic growth:The role of stock markets[J]. Journal of Money, Credit and Banking, 2001, 33(1):16-41.
DOI:
10.2307/2673870
12 Beck T, Levine R. Stock markets, banks, and growth:Panel evidence[J]. Journal of Banking and Finance, 2004, 28(3):423-442.
DOI:
10.1016/S0378-4266(02)00408-9
13 Chordia T, Subrahmanyam A, Anshuman V R. Trading activity and expected stock returns[J]. Journal of Financial Economics, 2001, 59(1):3-32.
DOI:
10.1016/S0304-405X(00)00080-5
14 Demirgüç-Kunt A, Levine R. Stock market development and financial intermediaries:Stylized facts[J]. The World Bank Economic Review, 1996, 10(2):291-321.
DOI:
10.1093/wber/10.2.291
15 Engle R F, Hendry D F, Richard J F. Exogeneity[J]. Econometrica, 1983, 51(2):277-304.
DOI:
10.2307/1911990
16 Ghosh A R, Kim J I, Mendoza E G, et al. Fiscal fatigue, fiscal space and debt sustainability in advanced economies[J]. The Economic Journal, 2013, 123(566):F4-F30.
DOI:
10.1111/ecoj.12010
17 Hall R E. Fiscal stability of high-debt nations under volatile economic conditions[J]. German Economic Review, 2014, 15(1):4-22.
DOI:
10.1111/geer.2014.15.issue-1
18 Hansen B E. Inference when a nuisance parameter is not identified under the null hypothesis[J]. Econometrica, 1996, 64(2):413-430.
DOI:
10.2307/2171789
20 Hendry D F. Dynamic econometrics[M]. Oxford:Oxford University Press, 1995.
21 Levine R, Zervos S. Stock markets, banks and economic growth[J]. The American Economic Review, 1998, 88(3):537-558.
22 Mendoza E G, Oviedo P M. Public debt, fiscal solvency and macroeconomic uncertainty in Latin America:The case of Brazil, Colombia, Costa Rica and Mexico[J]. Economia Mexicana NUEVA EPOCA, 2009, 18(2):133-173.
23 Tong H. On a threshold model[A].Chen C H.Pattern recognition and signal processing[C].Amsterdam:Sijthoff and Noordhoff, 1978.
24 Wu J-L, Hou H, Cheng S-Y. The dynamic impacts of financial institutions on economic growth:Evidence from the European Union[J]. Journal of Macroeconomics, 2010, 32(3):879-891.
DOI:
10.1016/j.jmacro.2009.09.003
7625 
8630
