This work estimates the impact of Private Credit to the private sector and Liquid Liabilities (as measures of financial development) on economic growth, capital growth and productivity growth for different regions. Estimations are conducted with a panel database of 78 countries and 35 years...

This paper empirically investigates the impact of trade and financial liberalization on economic growth in Pakistan using annual observations over the period 1961-2005. The analysis is based on the bound testing approach of cointegration advanced by Pesaran et al (2001). The empirical findings...

This paper explores the non-linear relationship between financial development and economic growth. It mainly relies on the Panel Smooth Transition Regression (PSTR) model of Gonzalés et al. (2005) and three metrics of financial development to endogenously assess the impact of financial...

Managing capital flows and liquidity demand has been a central issue for emerging-market countries. In an era of global imbalances, rapid accumulation of foreign exchange reserves by surplus countries is also an issue for the international system. In a well-functioning international financial...

The study empirically analyzed the impact of financial development; foreign direct investment and urban population as share of total population on unemployment in Pakistan for the period from 1973 – 2010. Empirical findings of this study suggest that financial development does reduce...

The goal of this paper is to assess how financial sector competition plays out in the development of knowledge economy (KE). It contributes at the same time to the macroeconomic literature on measuring financial development and response to the growing field of KE by means of informal sector...

Previous research has established (i) that a country’s financial sector influence future economic growth and (ii) that stock market index returns affect future economic growth. We extend and tie together these two strands of the growth literature by analyzing the relationship between banking...

The paper implements the autoregressive distributed lag (ARDL) bounds testing, supplemented by the Johansen-Juselius (JJ) approaches to cointegration to explore a long run relation among energy use, economic growth, financial development, capital, and trade openness in Australia. We also apply...

This paper aims to reexamine the relationship between financial development and economic growth in Kenya over the period of 1971-2011. Since, financial sector plays a vital role in mobilizing and allocating savings into productive ventures, the core issue of this investigation remains important...

This paper assesses the relevance of intellectual property rights (IPRs) in the knowledge economy (KE)-finance nexus using the four variables identified under the World Bank’s knowledge economy index (KEI) and seven financial intermediary dynamics of depth, efficiency, activity and size. Three...