The latest global financial and economic crisis of 2008 has shown the need to re-examine the desirability of financial liberalization. This book is undertaking such a study on the issue of financial and market liberalization by adopting sophisticated econometric methods. It examines the effects...

A substantial body of literature suggests that financial market development plays a significant role in economic growth through fostering savings mobilization, easing risk management, promoting technological transfer and reducing information and transaction costs. However, the effect of...