While economic growth raises income and wealth and promotes financial intermediation, financial intermediation facilitates economic growth, since it raises the returns to investment. In this article we study the development of an important informal financial intermediary in Japan, the rotating...

The author develops a theory of financial development based on the costs associated with the provision of external finance. These costs are assumed to arise within an environment where informational asymmetries between borrowers and lenders are costly to resolve. When borrowing is limited,...

This research provides a grasp of China's energy needs and their implications for SSA countries in order to give a balanced and better understanding of its role on the continent. More specifically, the aim is to understand why and how China is involved in the SSA energy sector and what are the...