This paper analyzes whether fiscal policy in South Asia amplifies or smooths business cycle fluctuations. The paper estimates several econometric models to explore the cyclicality of government spending and tax buoyancy. The findings show that fiscal policy is procyclical in most countries. In...

This paper seeks to assess the extent to which a country's overall level of development and that of its financial sector, in particular, are factors that attract private capital into infrastructure projects. The authors investigate these effects in a 1990-2007 dataset on the power sector in 37...

Private savings play a pivotal role in financing development and sustaining growth. Recently, there have been many theoretical developments that underpin key determinants of savings behavior, many of which merit empirical investigation. Understanding the dynamics of the determinants of savings...

Although there has been research looking at the relationship between the structure of the financial system and economic growth, much less work has dealt with the importance of bank-based versus market-based financial systems for poverty and income distribution. Empirical evidence has indicated...

The Czech Republic had experienced a credit boom similar to those in other converging economies in the pre-crisis years. Nevertheless, the consequences of this credit boom were limited as was the impact of the global crisis on domestic financial institutions. This paper describes the...

This paper discusses the evolution of the Egyptian banking sector and the main trends in financial development in the Arab Republic of Egypt. The paper examines empirically the relationship between the development of the financial sector and economic growth in Egypt between 1980 and 2016. It...