Financial deepening in newly industrialised economies of Asia

Ved Pal Sheera and Ashwani Bishnoi

International Journal of Economic Policy in Emerging Economies, 2012, vol. 5, issue 2, 122-139

Abstract: This study is an attempt to highlight the financial deepening in Newly Industrialised Economies in Asian region. The Principal Component Analysis technique is employed to get the single dimension of financial deepening. The financial systems of China and Singapore economies have witnessed a surge in the financial deepening index in recent years whereas Hong Kong and Korea are found for decline in the index for same period. It is found that market-based system is boosting the overall financial system of Singapore whereas the financial systems of China, Hong Kong and Korea are equally attended by both types of environment.

Keywords: financial deepening; emerging economies; financial sector; principal component analysis; PCA; Asia; Singapore; China; Hong Kong; Korea; economic growth; financial performance indicators; newly industrialised economies; NIEs. (search for similar items in EconPapers)
Date: 2012
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