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Financial development, openess and institutions: Evidence from panel data

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posted on 02.02.2010, 16:13 by Badi H. Baltagi, Panicos O. Demetriades, Law Siong Hook
Utilising four annual panel datasets and dynamic panel data estimation procedures we find that trade and financial openness, as well as economic institutions are statistically important determinants of the variation in financial development across countries and over time since the 1980s. However, we find mixed support for the hypothesis that the simultaneous opening of both trade and capital accounts is necessary to promote financial development in a contemporary setting.

History

Publisher

Dept. of Economics, University of Leicester

Available date

02/02/2010

Publisher version

http://www.le.ac.uk/economics/research/discussion/papers2007.html

Book series

Papers in Economics;07/5

Language

en