Economic growth and financial sources of development some econometric estimations using panel data

Using panel data estimations we consider the relationships between the past economic growth of 34 countries and the channel they used to provide financial flows to their investment We consider two different kinds of invesment sources: domestic - by internal financial flows - and external - by international banks and investors - then we estimate successfully some endogeneous growth relationships using the different kinds of financing ways. This paper presents two particularities: we use as indicators of financing prices and volumes the rating scores built by international banks without any transformation; we introduce a dynamic dimension in a panel data estimation.