Financial Development, Financial Openness, and Economic Growth
Estrada, Gemma; Park, Donghyun; Ramayandi, Arief | August 2015
Abstract
This paper examines the importance of financial development and openness. It discusses the results of an
empirical analysis between both variables and economic growth. In addition to using more updated data,
which extend the sample period to include some postcrisis years, the paper examines whether country
characteristics and factors such as the exchange rate regime affect the finance–growth nexus.
Citation
Estrada, Gemma; Park, Donghyun; Ramayandi, Arief. 2015. Financial Development, Financial Openness, and Economic Growth. © Asian Development Bank. http://hdl.handle.net/11540/5104. License: CC BY 3.0 IGO.ISSN
2313-6537 (Print), 2313-6545 (e-ISSN)
Keywords
Cofinancing
Economic Development and Finance
Finance
Development Bank
Financial Development
Economic Development
Economics
Citable URI
http://hdl.handle.net/11540/5104Metadata
Show full item recordUsers also downloaded
-
Accountability Mechanism: Listening to Communities Affected by ADB-Assisted Projects and Enhancing Development Effectiveness
Asian Development Bank (Asian Development Bank, 2009-03-15)In May 2003, ADB approved a new accountability mechanism to replace the previous Inspection Function. The mechanism was established to provide better access for people adversely affected by ADBassisted projects to voice and seek solutions to their problems and also report alleged violations of ADB’s operational policies and procedures. Establishment of the mechanism is also an effort to enhance ADB’s ...In May 2003, ADB approved a new accountability mechanism to replace the previous Inspection Function. The mechanism was established to provide better access for people adversely affected by ADBassisted projects to voice and seek solutions to their ... -
Managing Reforms for Development: Political Economy of Reforms and Policy-Based Lending Case Studies
Abonyi, George; Bernardo, Romeo; Bolt, Richard; Duncan, Ronald; Tang, Christine (Asian Development Bank, 2013-01-01)The book’s intended readers are development practitioners involved in the policy reform process. It aims to help them understand political economy factors that shape actual outcomes, and to simplify the complexities of policy reform. Successful reform has to resolve two separate and conflicting dimensions: people and time. Reforms, by their very nature, challenge the status quo, often threatening ...The book’s intended readers are development practitioners involved in the policy reform process. It aims to help them understand political economy factors that shape actual outcomes, and to simplify the complexities of policy reform. Successful reform ... -
Multilateralizing Asian Regionalism
Baldwin, Richard; Kawai, Masahiro (Asian Development Bank Institute, 2013-08-15)Motivated by the proliferation of free trade agreements (FTAs) in Asia over the last decade, this paper studies the challenges faced by the Asian “noodle bowl”—overlapping, multiple trade rules, regulations, and standards in Asia—in the process of regional and global trade integration. The paper first highlights the importance of trade and investment linkages among Asian economies that have formed ...Motivated by the proliferation of free trade agreements (FTAs) in Asia over the last decade, this paper studies the challenges faced by the Asian “noodle bowl”—overlapping, multiple trade rules, regulations, and standards in Asia—in the process of ...
Related items
-
Financial Inclusion, Financial Regulation, Financial Literacy, and Financial Education in the KYRGYZ Republic
Asian Development Bank Institute (Asian Development Bank Institute, 2018-07-15)This paper discusses recent developments in financial inclusion and financial literacy in Kyrgyz Republic. While financial inclusion is considered one of the key drivers of today’s development, it is quite new to Kyrgyz Republic. The first attempts to introduce the notion of financial inclusion arose after a violent power shift in 2010. The economy experienced an overall decline, the banking sector ...This paper discusses recent developments in financial inclusion and financial literacy in Kyrgyz Republic. While financial inclusion is considered one of the key drivers of today’s development, it is quite new to Kyrgyz Republic. The first attempts to ... -
The Road to ASEAN Financial Integration: A Combined Study on Assessing the Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN
Asian Development Bank (Asian Development Bank, 2013-03-01)A Combined Study on Assessing the Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN This paper provides a summary assessment of the Association of Southeast Asian Nations (ASEAN) on the state of financial integration in the region, with inputs from the Asian Development Bank regional technical assistance project Combined Studies on Assessing the ...A Combined Study on Assessing the Financial Landscape and Formulating Milestones for Monetary and Financial Integration in ASEAN This paper provides a summary assessment of the Association of Southeast Asian Nations (ASEAN) on the state of financial ... -
The Financial Crisis: A Wake-Up Call for Strengthening Regional Monitoring of Financial Markets and Regional Coordination of Financial Sector Policies?
Winkler, Adalbert (Asian Development Bank, 2010-02-15)How much can regional monitoring of financial markets and coordination of financial sector policies contribute to preventing and mitigating financial crises? This paper reviews and compares the experiences of Europe and Asia, which have taken different routes and have achieved different levels of regional financial integration. The analysis suggests that the harmonization and coordination of regulation ...How much can regional monitoring of financial markets and coordination of financial sector policies contribute to preventing and mitigating financial crises? This paper reviews and compares the experiences of Europe and Asia, which have taken different ...