Financial Deepening and Economic Growth in Select Emerging Markets with Currency Board Systems: Theory and Evidence

Yujuan Qiu
Additional contact information
Yujuan Qiu: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

No 87, Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

Abstract: This paper investigates some indicators of financial development in select countries with currency board systems and raises some questions about the connection between financial development and growth in currency board systems. Most of those cases are long-past episodes of what we would now call emerging markets. However, the paper also looks at Hong Kong, the currency board system that is one of the world’s largest and most advanced financial markets. The global financial crisis of 2008-09 created doubts about the efficiency of financial markets in advanced economies, including in Hong Kong, and unsettled the previous consensus that a large financial sector would be more stable than a smaller one.

Keywords: banks; currency board; financial deepening; growth (search for similar items in EconPapers)
JEL-codes: N10 O42 (search for similar items in EconPapers)
Pages: 31 pages
Date: 2017-09
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://sites.krieger.jhu.edu/iae/files/2017/09/Yu ... ancial_Deepening.pdf Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ris:jhisae:0087

Access Statistics for this paper

More papers in Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise Contact information at EDIRC.
Bibliographic data for series maintained by Steve H. Hanke ().