Most empirical analysis of the finance-growth nexus has used measures of financial development such as the ratio of monetary or financial assets to GDP to measure financial development. We argue that from a policy perspective measures of financial liberalisation or reform are of greater interest...

Results support Arestis’s theory, that low real interest rates do not prevent economic growth (though he related it to the regulation debate). Here in the deregulation environment, it also stands. Results also support Shaw’s assertion that financial liberalisation increases the monetary...

The paper addresses the significance of financial development as a possible determinant of economic growth. Economists and policymakers in transition economies and emerging markets are certainly aware of the key role that, in a market economy, the financial system is supposed to play in the...

The causal relationship between financial development and economic growth is acontroversial issue. For developing countries, empirical studies have provided mixedresult. This study seeks to empirically explore the relationship and the causal linkbetween financial development and economic growth...

This thesis examines the relationship between the development of the financial systemand economic growth in the United Kingdom, using a time series econometricmethodology. It extends the existing literature in three ways. First, it applies adisaggregated approach, testing the relationship not...

This dissertation is an investigation into one of the important functions of the banking system: to transform short-term liquid deposits into long-term illiquid financial assets that can fund long gestation activities and, thus, raise the rate of economic growth. To investigate this function...

Evaluations of China's stock market range from extremely favourable assessments that emphasise GDP growth rates, financial depth or the rapid growth of privatisation to extremely negative assessments that favour market efficiency or short-term profitability to the exclusion of alternative...

The nexus between financial development and economic growth is a well-documented literature and it has continued to expand since the pioneer studies in the early 1990s. From this view point, the goal of this paper is to survey finance-growth literature. The results obtained from causality...