This study provides new evidence on the relationship between finance and economic growth using an innovative dynamic panel threshold technique. The sample consists of 87 developed and developing countries. The empirical results indicate that there is a threshold effect in the finance-growth...

This paper assesses the effectiveness of both financial depth and financial inclusion in the mitigation of output volatility during the Global Financial crisis. In addition to their direct relations, the paper also evaluates whether finance will be more effective in countries with more developed...

This paper examines the impact of trade openness and capital flows on financial development in developing countries using a dynamic panel GMM estimation technique. The empirical results reveal that trade openness and capital flows are statistically significant determinants of financial...