Globalization Impact on Financial Development of Emerging Economies

Edgar Demetrio Tovar-García

Finansovyj žhurnal — Financial Journal, 2012, issue 1, 37-48

Abstract: The article analyzes the impact of financial globalization on financial development of the emerging economies. Empirical evidence with new indices that better reflect the theory and primary concepts is discussed. It presents evaluation of dynamic panel data based on the generalized method of moments. Principal conclusion: financial globalization promotes securities market growth but has no effect on credit growth or financial development.

Keywords: financial globalization; financial development; developing countries; panel data; generalized method of moments (search for similar items in EconPapers)
JEL-codes: F01 F60 F68 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:120104:p:37-48

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