Intelligence and finance |
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| Affiliation: | 1. Civil & Environmental Engineering, Cal Poly State University, San Luis Obispo, CA 93407, United States;2. Civil and Environmental Engineering, UNSW Australia, Sydney, Australia;3. Gulf Coast Center for Evacuation and Transportation Resiliency, Louisiana State University, Baton Rouge, LA 70803, United States;4. Civil & Environmental Engineering, Louisiana State University, Baton Rouge, LA 70803, United States;1. Microelectronics Research Center, The University of Texas at Austin, 10100 Burnet Road, Austin, TX 78758, USA;2. Microlink Devices, Inc., 6457 West Howard Street, Niles, IL 60714, USA;3. U. S. Army Research Laboratory, 2800 Powder Mill Road, Adelphi, MD 20783, USA;1. Key Laboratory for Aerosol-Cloud-Precipitation of China Meteorological Administration, Collaborative Innovation Center on Forecast and Evaluation of Meteorological Disasters, School of Atmospheric Physics, Nanjing University of Information Science & Technology, Nanjing 210044, China;2. School of Atmospheric Sciences, Nanjing University, Nanjing 210093, China;3. University of Toronto, Toronto, Ontario M5S 3G3, Canada;4. Jiangsu Province Environmental Monitoring Center, Nanjing 210029, China;1. International Monetary Fund, Middle East Center for Economics & Finance, Kuwait;2. UAE University, College of Business & Economics, United Arab Emirates;3. University of New Orleans, College of Business Administration, USA;4. Laval University, Faculty of Business Administration, Canada |
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| Abstract: | This paper explore the effect of intelligence on financial development using data from 180 nations, over the period 2000–2012. The results provide strong support for the claim that intelligence is positively associated with the supply of finance to economy. This paper establishes that, moving from country with the mean IQ score (84.1) to the highest national IQ score (107.1) is associated with 3.6 fold increase in the size of banking sector. The positive effect of intelligence remains intact when we control for other antecedents of financial development. |
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