Herwartz, Helmut; Walle, Yabibal M. - In: Journal of Banking & Finance 48 (2014) C, pp. 235-247
Rajan and Zingales (2003) hypothesize that openness—trade and financial—is a crucial determinant of financial development. The main policy implication emerging from this hypothesis is that openness should be promoted as a means of facilitating economic growth through financial development....