This article reviews the theoretical and empirical literature on the causal relationship between financial development and investment. Based on the literature considered, it can be concluded that there is little consensus to date on the direction of causality between financial development and...

This article summarises the empirical literature on the impact of financial development on investment. It presents a topical analysis of empirical research that focuses mainly on the interaction between financial development and investment, determinants and measurement of both financial...

Purpose This study examines the moderating role of institutional quality and its threshold in the African financial development-economic complexity nexus. This objective follows the argument that institutional quality influences the financial system's efficiency in allocating resources to...