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Does financial development cause economic growth? Time-series evidence from 16 countries
Abstract This paper conducts causality tests between financial development and real GDP using recently developed time series techniques. Our results provide little support to the view that finance isExpand
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Financial Development and Openness: Evidence from Panel Data
This paper addresses the empirical question of whether trade and financial openness can help explain the recent pace in financial development, as well as its variation across countries in recentExpand
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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
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Infrastructure, transport costs and trade
Abstract This paper examines the role of infrastructure in a bilateral trade model with transport costs. Transport costs are assumed to depend inversely on the level of infrastructure. TheExpand
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Finance, institutions and economic development
Using data from 72 countries for the period 1978-2000, we find that financial development has larger effects on GDP per capita when the financial system is embedded within a sound institutionalExpand
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Intertemporal Output and Employment Effects of Public Infrastructure Capital: Evidence from 12 OECD Economies
This paper utilises an intertemporal optimisation framework to study the effects of public infrastructure capital on output supply and input demands in 12 OECD countries. We find that in all 12Expand
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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
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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
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Government Ownership of Banks, Institutions, and Financial Development
Using a suitably modified locational model of banking, we examine the influence of institutions, such as deposit contract enforcement, in explaining the share of government owned banks in the bankingExpand
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