This study examines the impact of external factors, such as law, regulation, and technology on a country's rate of economic growth. The results suggest that the technological, legal, and regulatory environment can play a major role towards enhancing the smooth functioning of the financial system...

This paper estimates an Odedokun-type “supply-leading” model of financial sector development (FSD) which incorporates both banking and capital market variables as potential drivers of economic growth. The current findings illustrate the impact on economic growth of various measures of FSD...

This paper estimates the relationship between the level of economic growth and the extent of environmental pollution for a wide range of both industrialized and emerging countries. Using data from 28 countries over the period 1975-1998, the paper finds support for an inverted U- shaped economic...