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...

To clarify the causal links between financial activity and economic growth, a series of path models is estimated for a pooled sample of 93 countries between 1970 and 1990. A multi-wave 2SLQ-analysis shows that during the 1970's and 1980's finance was predominantly a supply-leading determinant of...

To clarify the causal links between financial activity and economic growth, a series of path models is estimated. It is shown that during the 1970s and 1980s finance was predominantly a supply-leading determinant of economic growth. The data suggest, however, that there has been a structural...

Economic freedom and economic growth can be connected in most countries, but it is often necessary to specify those aspects of economic freedom that can foster economic growth. This paper examines the nexus between economic freedom and economic growth in the Least Developed Countries (LDCs)...

Purpose - This paper introduces previously missing financial components(efficiency, activity and size) in the assessment of the finance-investment nexus. Design/methodology/approach - VAR models in the perspectives of VECM and short-run Granger causality are employed. Usage of optimally...

To clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a structural equation path models is estimated. In the modeling part, poverty traps result from large fixed costs or high proportions of real investment to run a financial...