This paper shows that, counter to common perception, stock prices in China are strongly linked to firm fundamentals. Since the reforms of the early 2000s, stock prices are as informative about future profits as they are in the US. Although the market is segmented from international equity...

China is the world's largest investor and greatest contributor to global economic growth by wide margins. The efficiency of its financial system in allocating capital to investment will be important to sustain this growth. This paper shows that China's stock market has a crucial role to play....

This paper shows that, counter to common perception, stock prices in China are strongly linked to firm fundamentals. Since the reforms of the early 2000s, stock prices are as informative about future profits as they are in the US. Although the market is segmented from international equity...

We compare banking sector development in the EU Accession Countries (AC) Bulgaria, Croatia, Romania and Turkey with a special emphasis on the role of foreign banks. We discuss selected features of the Accession Countries' banking sector reform and patterns of foreign entry, combining the...

Over the last decade the role of financial sector development in economic growth has become a major topic in empirical research. Most cross-section-oriented studies (for example Rousseau and Wachtel, 2000; Levine et al., 2000; Singh et al. 2000; Demirguec-Kunt and Levine, 1999) base their analyses on broad...

The aim of the paper is to discuss the use of corporate bonds in financial strategies in Central and Eastern Europe (CEE) and repercussions to the transition progress. We provide empirical data on the growing use of corporate bonds in CEE, discuss the level of development of the domestic...

This paper contributes to the finance-growth debate by reviewing the relationship between financial sector foreign direct investment and economic growth. The positive view of the finance-led growth hypothesis normally focuses on more open and liberalized financial systems. Banking markets in...

Azerbaijani abstract: Tədqiqatın əsas məqsədi müasir şəraitdə İslam Maliyyə Sisteminin spesifik xüsusiyyətlərinin öyrənilməsinə yönəlmişdir. Tədqiqat işi müqayisəli təhlil və məntiqi ümumiləşdirmə kimi tədqiqat üsulları əsasında yerinə yetirilmişdir....

This paper examines the impact of financial sector foreign direct investment (FSFDI) on economic growth by estimating a panel data model for 11 Central and Eastern European countries (CEECs) between 1996 and 2003 in a cross-country growth accounting framework. The analysis concentrates on the...

China is the world’s largest investor and greatest contributor to global economic growth by wide margins, and will remain so for many years. The efficiency of its financial system in allocating capital to investment will be important to sustain this growth. This paper shows that China’s...