Both theoretical and empirical evidence show that recessions are steeper in countries with high levels of private debt and/or credit booms. But do these negative effects carry over to the period where the recession is over and the economy recovers from the crisis? In this paper we look at...

This paper employs a threshold regression model to investigate the existence of inflation threshold effects in the relationship between financial development and economic growth. A specific question that is addressed in this paper is what the threshold inflation rates are for Taiwan and Japan....

Using a Vector Autoregression (VAR) approach, we examine the impact of financial development on economic growth in China. Innovation accounting (variance decomposition and impulse response function) analysis is applied to examine interrelationships between variables in the VAR system and,...

The causality relationship between financial development and economic growth is one of the highly discussed and unresolved topics in the economics literature. In this study, the causality relationship between financial development and economic growth is searched for Turkey. Quarterly data of...

The paper evaluates the relationship between financial intermediation and the economic growth in the developing economic systems. First, using dataset from 28 countries,between 2001 and 2010 we define a financial intermediation indicator applying EFA method. We use several dimensions of the...

This paper examines the impact of capital market deepening on economic growth of Bangladesh using the time series data on market capitalization-GDP ratio, total market turnover-GDP ratio and Savings-GDP ratio over the period covering from the year 1991 to 2011. The economic results found by...

The focus of this study is to empirically assess insurance market activities in Nigeria with the view to determining its impact on economic growth. The period of study was 1970- 2008, the study made use of insurance density measures (premium per capita) as a measure for insurance market activity...

Theories predict a positive effect of enterprise credit market development on economic growth and an ambiguous relationship between household credit market and growth. The purpose of this paper is to assess empirically the effects of enterprise credit market and household credit market on...

This article analyses the role of the banking system in financing the impressive process of growth undergone by the Basque economy since 1980, with particular emphasis on the latest cycle that ended with the great recession. The analysis shows that in spite of the relative solvency of its...

We explore heterogeneity in the finance-growth relationship by considering the effects of foreign and domestic lending separately. Estimating finite mixture models, we find that the effects of bank finance and foreign bank involvement on growth depend on 1) how well-developed the banking sector...