Bien que les études théoriques et empiriques convergent sur la dimension financière dans la croissance économique, elles n’apportent pas une réponse commune à la question de l’interaction entre la libéralisation financière et la croissance économique. D'une part, la libéralisation...

China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...

Our thesis focuses on private capital inflows affect on economic growth in developing countries. For our analysis, we distinguish three types of private flows: foreign direct investment, bank loans and portfolio investment. From a theoretical view, the capital inflows affect positively economic...

Ce papier a trait à la question de la libéralisation financière des économies émergentes. Son objectif est de montrer qu'il est possible, pour durablement concilier finance et croissance économique, de maximiser les bénéfices de l'ouverture financière tout en minimisant efficacement les...

Cet article a pour ambition de revenir sur les récents développements du commerce des services financiers à travers le monde. Nous nous intéressons particulièrement aux enjeux de la libéralisation de ce commerce en matière de croissance économique et au rôle joué par l'Accord Général...

This paper empirically tests whether the host country financial reform promotes the inflow of FDI. We test the hypothesis on the panel data of China. First, Granger causality tests (Granger, 1969; Sims, 1972) show that financial deregulation causes FDI and the causality is unidirectional. Second,...

In this paper, we implement Granger causalty tests using panel data as methodology perfected by Hurlin (2004, 2005) and Hurlin and Venet(2004). We consider the bilateral trade patterns of the European Union with 17 countries over the period 1976-2000. We show that for the whole sample, there are...

Government-owned development banks have often been justified by the need to respond to financial market imperfections that hinder the establishment and growth of promising businesses, and as a result, stifle economic development more generally. However, evidence on the effectiveness of these...

In this paper, we implement Granger causalty tests using panel data as methodology perfected by Hurlin (2004, 2005) and Hurlin and Venet(2004). We consider the bilateral trade patterns of the European Union with 17 countries over the period 1976-2000. We show that for the whole sample, there are...

Rajan and Zingales (2003) hypothesize that openness—trade and financial—is a crucial determinant of financial development. The main policy implication emerging from this hypothesis is that openness should be promoted as a means of facilitating economic growth through financial development....