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...

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...

This paper examines the dynamic impact of interest ratereforms on economic growth in Zambia—using two models in a stepwisefashion. In the first model, the efficacy of interest rate liberalization isexamined by regressing the interest rate on the level of financial deepening.In the second...

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...

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...

This paper aims to investigate the relationship between economic growth, institutional quality and financial development whitin a sample of middle-income countries. We generate three hypothesis on the potential relationships between those three dimensions by reviewing the existing literature and...