In this paper, we test for Wagner's law for 15 Indian states. We consider nine panels of states based on geography and level of economic development. Using panel unit-root, panel-cointegration, and panel-Granger causality analysis, we unravel strong evidence of Wagner's law. However, we find...

In this paper, we examine the impact of the financial system on economic growth for a panel of 65 developing countries. The novelty of our paper is that we examine these relationships for various regional panels. Our main findings are that while for the full panel of 65 countries there is...