This paper provides a survey of the recent progress in the literature of financial development
and economic growth. The survey highlights that most empirical studies focus on either …

In this paper, we put into perspective the recent literature which points to inequality as a
possible cause of credit bubbles, by reintegrating it into a more general analysis on the two …

In this paper we take a fresh look at the empirical evidence on the relationship between
financial development and economic growth with a view to identifying outstanding issues …

The objective of this paper is to examine whether financial development leads to economic
growth or vice versa in the small open economy of Malaysia. Using time series data from …

The long-run relationship between financial development and economic growth is examined
in a multivariate vector autoregression (VAR) framework using 10 sample countries …

The idea that the functioning of financial systems affects economic development has a long
history in the economics literature, dating back at least to Schumpeter (1912). Following …

The effect of financial liberalization on private saving is theoretically ambiguous, not only
because the link between interest rate levels and saving is itself ambiguous, but also …

Although theory emphasizes the role of financial market frictions in explaining income
inequality, there is little empirical research exploring how financial development and …

In modern economies finance underpins virtually every economic transaction that takes
place. When we go to the supermarket. we usually pay using cred it or debit cards issued by …

This paper provides new evidence that sheds light on the influence of institutional quality,
trade openness and financial liberalisation on financial market development, using data …