This paper is to investigate the existence of β- convergence and σ- convergence for financial institutional characteristics for the dataset of 102 countries from 1980 to 2009. The research is based on panel data econometric models and 10 financial depth indicators. The partial effects of...

This paper is to summarize the literature on finance-innovation link and produce evidence that the development of banking sector in Russia is to foster innovation process. Financeinnovation link is a new and scarcely covered issue. Nevertheless it is conventional wisdom that stock market...

This paper is to investigate the existence of β- convergence and σ- convergence for financial institutional characteristics for the dataset of 102 countries from 1980 to 2009. The research is based on panel data econometric models and 10 financial depth indicators. The partial effects of...

This paper is to provide literature review on traditional financial system classification and offer and alternative classification of financial systems. Conventional wisdom holds that there are basically 2 types of financial systems – bank-based and market-based. But modern research points to...

This paper is to summarize the literature on finance-innovation link and produce evidence that the development of banking sector in Russia is to foster innovation process. Finance-innovation link is a new and scarcely covered issue. Nevertheless it is conventional wisdom that stock market...

This paper is to investigate the existence of β-convergence and σ-convergence for financial institutional characteristics for the dataset of 102 countries from 1980 to 2009. The research is based on panel data econometric models and 10 financial depth indicators. The partial effects of...