Keyword Search:

Finance, institutions and economic development

Demetriades, Panicos and Law, Siong Hook (2006) Finance, institutions and economic development. International Journal of Finance and Economics, 11 (3). pp. 245-260. ISSN 1076-9307

Full text not available from this repository.

Official URL: http://dx.doi.org/10.1002/ijfe.296

Abstract

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 institutional framework. Moreover, we find that financial development is most potent in middle-income countries, where its effects are particularly large when institutional quality is high. Importantly, we also find that in low-income countries the influence of financial development is at its weakest; in these countries, more finance without sound institutions may not succeed in delivering long-run economic benefits. Copyright © 2006 John Wiley & Sons, Ltd.

Item Type:Article
Keyword:Economic development; Financial development; Institutional quality; Pooled mean group estimation; Finance; Gross Domestic Product; institutional framework
Subject:Economic development
Subject:Finance
Faculty or Institute:Faculty of Economics and Management
Publisher:John Wiley & Sons, Ltd
DOI Number:10.1002/ijfe.296
Altmetrics:http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1002/ijfe.296
ID Code:18296
Deposited By: Azwana Abdul Rahman
Deposited On:24 Oct 2011 14:25
Last Modified:24 Oct 2011 14:25

Repository Staff Only: Edit item detail

Document Download Statistics

This item has been downloaded for since 24 Oct 2011 14:25.

View statistics for "Finance, institutions and economic development"