Financial Liberalisation and Economic Growth: A Panel Data Approach

Bulent Guloglu ()

Istanbul Stock Exchange Review, 2003, vol. 7, issue 27, 35-58

Abstract: The purpose of this paper1 is to examine the effects of financial development on economic growth before and after the implementation of financial reforms. Using panel data averaged on five years we have carried out an empirical study including initially 43 countries covering five years intervals period from 1970 to 1994. However, the estimations concerning this period have given contradictory results and turned out to be insufficient to explain the influence of financial development on economic growth. We think that these unexpected findings may be results of the mixing of the countries, which have repressed their financial sectors with those, which have implemented financial reforms over two decades. Therefore, we have analysed the influence of financial development on economic growth before and after the implementation of financial reforms. The results show that, financial reforms could have positive effect on financial development in some cases and hence accelerate the economic growth.

Date: 2003
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.borsaistanbul.com/datum/imkbdergi/EN/ISE_Review_27.pdf (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:bor:iserev:v:7:y:2003:i:27:p:35-58

Access Statistics for this article

More articles in Istanbul Stock Exchange Review from Research and Business Development Department, Borsa Istanbul Contact information at EDIRC.
Bibliographic data for series maintained by Ahmet Palu ().