This paper investigates the nexus between financial sector development and economic growth in the Saudi economy over the period 1970-2012 by using four alternative proxies for financial development and several techniques including unit root tests, the co-integration test, the Granger Causality...

Is there any interrelationship between firm level FDI in the form of cross border Mergers amp; Acquisitions and capital markets growth and quality? We addressed this question using panel data of cross border Mamp;A for nine emerging economies. Our study period goes from 1987 to 2006. We find...

Using a large panel dataset of Chinese manufacturing enterprises during 1999-2005, which accounts for over 90% of China's industrial output, and robust econometric procedures we show that the Chinese banking system has helped to support the growth of both firm value added and TFP. We find that...

Using quarterly data for 1995-2005, we examine the role of financial factors in China's recent increases in real sector activity. A series of cointegrated VAR models indicate that banking sector development was central to these successes, but that stock market development, as measured by market...

This paper analyzes some of the structural problems associated with the Korean financial sector, and investigates whether the financial system has allocated credit in an efficient way over the past three decades. Using data for 32 manufacturing sectors, we find no evidence that credit flows were...

Based on data collected on a wide range of financial sector indicators, new indices of financial development for countries in the Middle East and North Africa (MENA) are constructed, encompassing six themes: development of the monetary sector and monetary policy, banking sector development,...

This paper explores episodes of financial crises and recessions experienced by the economies in Southeast Asia: the global debt crisis and the commodity price collapse in the 1980s, the Asian financial crisis in the 1990s, and the burst of the dot-com bubble and the global financial crisis in...

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 focuses on the following two issues. First, the paper investigates the extent to which financial development has contributed to economic growth in China. For this purpose, we utilize well-known financial development indicators and seek to find a long-run relationship between output...