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Financial Development and Economic Growth: Views and Agenda
Ross Levine,Ross Levine +1 more
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TLDR
The authors argue that the preponderance of theoretical reasoning and empirical evidence suggests a positive, first-order relationship between financial development and economic growth, and that the development of financial markets and institutions is a critical and inextricable part of the growth process and away from the view that the financial system is an inconsequential sidehow, responding passively to economic growth.Abstract:
This critique argues that the preponderance of theoretical reasoning and empirical evidence suggests a positive, first-order relationship between financial development and economic growth. The body of work would push even most skeptics toward the belief that the development of financial markets and institutions is a critical and inextricable part of the growth process and away from the view that the financial system is an inconsequential sideshow, responding passively to economic growth. Many gaps remain, however, and the paper highlights areas in acute need of additional research.read more
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Banking Outreach and Household level Access: Analyzing Financial Inclusion in India 1
Chandan Kumar,Srijit Mishra +1 more
TL;DR: In this article, the authors tried to measure and understand financial inclusion by looking at supply of (banking outreach indicators such as number of deposits and credit accounts, number of bank branches, average deposit and credit amount per account and credit utilized) and demand for (indicators of household level access such as the proportion of households having saving, credit and insurance facilities) financial services.
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Stock markets, banks and economic growth : time series evidence from South Africa
TL;DR: In this article, the causal relationship between stock market development and economic growth in South Africa while controlling for the effect of banking variable was examined, and the finding suggests evidence of bidirectional causality between financial development, using bank credit to private sector (BCP).
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Are PMS meeting the measurement needs of BPM? A literature review
TL;DR: It is found that, by and large, the PMS as advocated by various authors for over 20 years (since 1990) failed to fulfill the measurement requirements of BPM.
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Foreign direct investment and stock market development in Pakistan
TL;DR: In this article, the impact of FDI on the stock market development in Pakistan, both aggregate as well as sector wise, was investigated, and the results support the positive role of the FDI in boosting the aggregate stock market in long run.
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Current accounts and oil price fluctuations in oil-exporting countries: The role of financial development
TL;DR: This article investigated the effect of oil price changes on the current account of 27 oil-exporting economies over the 1980-2010 period, and found that the effect depends critically on the degree of financial development of the countries.