The authors employ panel Vector Error Correction Models (VECM) and cointegration framework to identify the existence and direction of the causal association between foreign direct investment (FDI) in financial services and financial development for 26 emerging economies for the period 2003-2015....

An efficient regulatory framework is a pre-requisite for developing a services market that supports competitiveness and offers opportunities for export diversification. Creating such a framework requires a comprehensive understanding of the laws, regulations, and practices affecting trade and...