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....

Inclusive growth has been a major focus of the Government of India in the recent days towards achieving harmonious development of the country. A major initiative in this direction has been taken by the government of India in collaboration with the country's Reserve Bank emphasising on financial...