In this paper, we perform GMM dynamic panel data estimations to test the relationship between financial development and growth. Our dataset is composed of 112 emerging and developing countries over the period 1975-2007. More specifically, we test the presence of financial development threshold...

In this paper, we test the empirical implications of financial openness on long-term growth through the financial development channel. Our work differs from the existing literature on a number of issues, the most important of them lies in the study of the relationship between financial openness,...