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This paper examines the evolving importance of banks and securities markets during the process of economic development. We find that as countries develop economically, (1) the size of both banks and securities markets increases relative to the size of the economy, (2) the association between an...
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the economic history of preindustrial China in order to understand how and why it differed from that of preindustrial …
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, economic and political factors significantly influence mutual funds investment decisions in emerging China …
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has contributed to economic growth in China. For this purpose, we utilize well-known financial development indicators and …
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