• Publications
  • Influence
Financial Development and Economic Growth: The Role of Stock Markets
Utilizing time series methods and data from five developed economies, we examine the relationship between stock market development and economic growth, controlling for the effects of the bankingExpand
  • 594
  • 37
A quantitative reassessment of the finance-growth nexus: evidence from a multivariate VAR
Abstract The long-run relationship between financial development and economic growth is examined in a multivariate vector autoregression (VAR) framework using 10 sample countries. DifficultiesExpand
  • 752
  • 35
Financial structure and economic growth
Recent empirical work on financial structure and economic growth analyzes multi-country dataset in panel and/or cross-section frameworks and concludes that financial structure is irrelevant. WeExpand
  • 257
  • 15
  • PDF
The Direct Costs of Financial Repression: Evidence From India
This paper provides evidence that suggests that financial repression has substantial direct effects on financial development, independently of its well-known influence through the level of the realExpand
  • 161
  • 11
Financial Development, Economic Growth and Banker Sector Controls: Evidence from India
This paper uses newly collected data from the Reserve Bank of India to examine the effects of various types of banking sector controls on the process of financial deepening. With the exception of aExpand
  • 249
  • 10
Government Solvency: Revisiting some EMU Countries
Corsetti and Roubini [Corsetti, G., Roubini, N., 1991. Fiscal deficits, public debt and government solvency: Evidence from OECD countries. Journal of Japanese and International Economies 5, 354–380]Expand
  • 70
  • 7
  • PDF
Real exchange rate behaviour: evidence from black markets
The behaviour of real exchange rates (relative to the US dollar) is examined using monthly data obtained from the black markets for foreign exchange of eight Asian developing countries. The data spanExpand
  • 56
  • 6
Heterogeneous Panel Unit Root Tests and Purchasing Power Parity
Doubts have been raised recently on the findings of panel studies of purchasing power parity (PPP) on the grounds that they ignore serial correlation and cross-sectional dependence, and consequentlyExpand
  • 33
  • 5
Does Financial Structure Matter?
We address the issue of whether financial structure influences economic growth. Three competing views of financial structure exist in the literature: the bank-based, the market-based and theExpand
  • 40
  • 4
  • PDF
Sources of Knowledge and Productivity: How Robust is the Relationship?
We estimate domestic productivity relationships for a sample of 16 OECD countries through probably the most general specification yet. We identify ten key determinants of productivity - all derivedExpand
  • 42
  • 4