This paper synthesizes previous studies analyzing the effects of capital account liberalization on industry growth while controlling for financial crises, domestic financial development and the strength of institutions. We find reasonably strong evidence that financial openness has positive...

Consistent with recent theoretical models, this paper finds that financial openness has a positive effect on private credit in economies characterized by a competitive banking sector, but that this effect vanishes and even becomes negative in economies with imperfect banking competition.

This paper is interested in the nexus between external debt and export competiveness. Specifically, while we find that once external debt exceeds a certain threshold it is negatively associated with export growth, we are interested in determining whether the tipping points vary based on country...

This study makes a cross sectional case in investigating the validity, or otherwise, of the finance-driven growth hypothesis in the ECOWAS countries using annual data from 1970 to 2008 for seven countries namely: Burkina Faso, Cote d’Ivoire, The Gambia, Ghana, Nigeria, Senegal and Togo. In...

Employing the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness in twenty-nine Asian developing countries over 1994-2008. Firstly, we find a bidirectional causality...

This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the...

There is a long debate among policymakers and academicians regarding whether assessments of international financial integration have significant growth benefits and whether such benefits compensate for the accompanied risks. Recent financial crisis has revived this debate. The previous empirical...

Recent literature finds that exporters are particularly vulnerable to financial market frictions.As a consequence, exports may be lower than their efficient levels. For this reason,many countries support exporters by underwriting export credit guarantees. The empiricalevidence on the effects of...

Employing the Pedroni co-integration technique and the GMM estimator, this paper aims at investigating the possible connection between financial development, financial openness and trade openness in twenty-nine Asian developing countries over 1994-2008. Firstly, we find a bidirectional causality...

This study makes a cross sectional case in investigating the validity, or otherwise, of the financedriven growth hypothesis in the ECOWAS countries using annual data from 1970 to 2008 for seven countries namely: Burkina Faso, Cote d'Ivoire, The Gambia, Ghana, Nigeria, Senegal and Togo. In...