In the literature on the growth-financial development relationship, many different measures of financial development have been suggested. These are generally highly correlated and are frequently subject to measurement error. In this article, principal components are used as a means of measuring...

The objective of this paper is to assess whether the Ricardian Equivalence Proposition (REP) holds in developing countries. Prima facie, since the REP requires a number of assumptions that might not appear to be satisfied in developing countries, it seems that the REP should not hold. However,...