Utilising four annual panel datasets and dynamic panel data estimation procedures we find that trade and financial openness, as well as economic institutions are statistically important determinants of the variation in financial development across countries and over time since the 1980s....

Using dynamic panel data techniques and data from 43 developing countries during 1980-2001, we provide evidence which suggests that openness and institutions are important determinants of financial development. Openness, in terms of trade and capital flows, is particularly potent in promoting...

This study examines the dynamic effects of financial deepening on income distribution of 35 developing countries during the past two decades of 1980-2000. For this purpose, three existing alternative hypotheses concerning the finance-inequality nexus are tested based on the newly assembled...

This study examines the dynamics of the finance-inequality nexus in 35 developing countries during the past two decades, using two data sets of income inequality: the University of Texas Inequality Project (UTIP) and the Standardized World Income Inequality Database (SWIID). The empirical...

This paper addresses the empirical question of whether trade and financial openness can help explain the recent pace in financial development, as well as its variation across countries in recent years. Utilising annual data from developing and industrialised countries and dynamic panel...

Hoping to contribute to the existing pool of literature, this paper examines the relationship between military expenditure and economic growth in selected Asian countries for the period 1989 to 2004. Our panel unit root test suggests that real GDP per capita and military expenditures are )1(I...

In this study we investigated the long-run relationship between property crime and three macro-financial economic variables in Malaysia for the period 1973 to 2003. In order to avoid what the econometrician term as ‘spurious regression problem’ we estimate the model using the vector-error...

Pacific island countries (PICs), since the mid 1990s, have been struggling with current account deficits in their balance of payments. Declining aid inflows and contraction in their traditional exports of primary goods along with growing imports of food, fuel and capital and intermediate goods...

Financial liberalization might be expected to have caused onetime shifts in money velocity or changes in the responsiveness of money demand to changes in incomes and interest rates. This study tends to examine the impact of financial liberalization on the money growth variability and money...

This paper addresses the crucial question whether export promotes economic performance in Malaysia, from both theoretical and empirical perspectives. Using bound testing approach as proposed by Pesaran, et al. (2001), the estimated coefficients suggested that an increase in exports, gross fixed...