This paper investigates thresholds of inflation, government size, trade openness, and per capita income for the finance-growth nexus using five-year averages of standard variables for 84 countries from 1965 to 2004. The results suggest that (i) high inflation crowds out positive effects of...

We revisit the relationship between financial development and economic growth in a panel of 52 middle income countries over the 1980-2008 period, using pooled mean group estimator in a dynamic heterogeneous panel setting. We show that financial development does not have a linear positive...

This paper addresses the issue whether excessive liberalization has caused the financial development to lose its effectiveness in generating economic growth. We employ a dynamic panel data analysis for 88 countries over the period of 1973 to 2005. Our index for the financial sector...

This study unites two streams of research by simultaneously focusing on the impact of financial globalisation on financial development and pre- and post-crisis dynamics of the investigated relationship. The empirical evidence is based on 53 African countries for the period 2004-2011 and...

This paper examines the relationship between financial sector reforms and sustainable economic growth in Ghana. Employing the autoregressive distributed lag (ARDL) bounds testing approach and using GDP per capita as a growth indicator, this paper establishes a long-run relationship between...

This paper examines the mainstream theories of "financial sustainability" and "financial development". It is suggested understanding "financial development" as the complex dynamic characteristics of the financial sector, which is formed under the influence of financial and economic policy...

This study examines the relationship between Financial Sector Development and Economic Growth in Ghana using time series data from 1980-2009. The study investigates empirically the impact of financial sector development on economic growth in Ghana using the Granger Causality Test, the Johansen...