Financial development, political rights, civil liberties and economic growth: Evidence from South Asia

Anwar, Sajid; Cooray, Arusha

doi:10.1016/j.econmod.2012.02.009

Cited by 77 publications

(46 citation statements)

References 39 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…One would expect that either governance in the form of high levels of voice and accountability enhance economic growth as opposed to lower levels of voice and accountability or vice versa.These results are contrast to results reported by Anwar and Cooray [4], Campos and Nugent [10] and Oliva and Rivera-Batiz [45]. These results are also different to meta-regression results reported by Doucouliagos and Ulubasoglu [17] for a broader group of countries in the world, which indicate that voice and accountability has no effect on economic growth.…”

Section: Multiple Meta-regression Analysiscontrasting

confidence: 56%

“…The economic growth literature is filled with empirical studies that have looked at the elusive and ever important question of what causes economic growth (Anwar and Cooray, [4]; Haggard and Tiede, [31]). The focus of most of the empirical studies in this field has been on conventional sources of economic growth such as domestic investment, education, foreign investment and others.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Economic Governance and Economic Growth in South and East Asia & Pacific Region: Evidence from Systematic Literature Reviews and Meta-analysis

Yerrabati¹,

Hawkes²

2015

aeb

View full text Add to dashboard Cite

With economists and policy makers recognising the role of governance for growth, recent research focus is on governance and its impact on growth. However, with ever growing number of studies using different methodologies, data sources and country groupings, a high amount of heterogeneity is created among reported results. This has left both policy makers and researchers having different views on the importance of governance for growth. This paper has meta-synthesised the empirical evidence on governance and growth in South and East Asia Pacific countries based on 29 studies with 554 estimates from 1980 -2012. The empirical results show that while corruption is significantly and negatively correlated with growth, government effectiveness and regulation are positively and significantly correlated. Political stability and law have no important effect on economic growth. We conclude that empirical research literature on governance and growth has failed to provide evidence of a true effect of voice and accountability on growth. Finally, overall governance is important for growth. Our results have important policy implications.

show abstract

Section: Multiple Meta-regression Analysiscontrasting

confidence: 56%

Section: Introductionmentioning

confidence: 99%

Economic Governance and Economic Growth in South and East Asia & Pacific Region: Evidence from Systematic Literature Reviews and Meta-analysis

Yerrabati¹,

Hawkes²

2015

aeb

View full text Add to dashboard Cite

show abstract

“…They find the U-shaped relation between banking sector development and growth, but the inverted U-shaped relation between stock market development and growth. Anwar and Cooray (2012) find that financial development and the quality of governance enhance the benefits from foreign direct investment and thus economic growth in South Asian economies.…”

Section: Introductionmentioning

confidence: 94%

Temporal Causal Relationship between Stock Market Capitalization, Trade Openness and Real GDP: Evidence from Thailand

Jiranyakul

2014

SSRN Journal

View full text Add to dashboard Cite

Abstract:This study examines both short-run and long-run causal relationship between stock market capitalization, trade openness and economic growth in Thailand. Quarterly data over the period from the first quarter of 1993 to the fourth quarter of 2013 are used in the analysis. The results from this study show that there exists a unidirectional long-run causality running from stock market capitalization and trade openness to real GDP. In the short run, an increase in stock market capitalization causes economic growth while an increase in trade openness decreases it and vice versa. Furthermore, there exist short-run bidirectional negative causations between economic growth and trade openness. However, the short-run phenomena are temporary. Based upon the results from this study, policymakers should pay attention to measures that are able to enhance stock market capitalization and trade openness if the long-run target is to achieve high economic growth rate.

show abstract

“…Liquid liabilities are measured using either, M1 (narrow definition of money), M2 (broad definition of money) or M3 (broader definition of money). Thus, in relation to financial depth, some researchers use the ratio of M2 to GDP (Anwar and Cooray 2012), some others uses M3 to GDP (Dawson 2008), especially in an economic context where money is principally used as a store of value. Some researchers also prefer to use the ratio of the difference between M3 and M1 to the GDP (Yilmazkuday 2011).…”

Section: Theoretical Reviewmentioning

confidence: 99%

Finance – Growth Nexus in Nigeria: Fragility and Development Effects

Ajogbeje

2016

ESJ

View full text Add to dashboard Cite

The study investigates the effects of financial fragility and financial development on economic growth in Nigeria between 1982 and 2012. The augumented dickey fuller (ADF) unit root test and the Johanson cointegration tests were respectively used to establish the stationarity and long run properties of the variables. The results show that financial development, proxy by credit to private sector as a percentage of GDP has a positive significant effects on output, as expected. As regards the fragility effects, the result revealed that the effect of financial volatility on economic growth is negative. Financial fragility was refined in the contexts of unsound banking system and unstable financial market, which were proxy by interest rate volatility and exchange rate volatility respectively, thus have negative significant effects on output. It is thus recommended that policy maker's efforts aimed at increasing growth should work more on developing the financial sector and dampening the volatile nature of financial series. The pairwise granger causality result also reveals that there is a unidirectional causality running from financial fragility to gross capital formation.

show abstract

Financial development, political rights, civil liberties and economic growth: Evidence from South Asia

Cited by 77 publications

References 39 publications

Economic Governance and Economic Growth in South and East Asia & Pacific Region: Evidence from Systematic Literature Reviews and Meta-analysis

Economic Governance and Economic Growth in South and East Asia & Pacific Region: Evidence from Systematic Literature Reviews and Meta-analysis

Temporal Causal Relationship between Stock Market Capitalization, Trade Openness and Real GDP: Evidence from Thailand

Finance – Growth Nexus in Nigeria: Fragility and Development Effects

Contact Info

Product

Resources

About