Financial System Development and Economic Growth in Transition Economies: New Empirical Evidence from the CEE and CIS Countries

Laura Cojocaru, Evangelos Falaris, Saul Hoffman () and Jeffrey Miller ()

Emerging Markets Finance and Trade, 2016, vol. 52, issue 1, 223-236

Abstract: We examine the role of financial development in economic growth in the former Communist countries of Central and Eastern Europe and the Commonwealth of Independent States during the first two decades since the beginning of transition. These countries, which had undeveloped financial systems under Communism, provide an interesting test of the relationship between financial development and growth. Our study is the broadest in terms of coverage and time period. We find that measures of financial market efficiency and competitiveness are more important than the size of the market in terms of promoting economic growth.

Date: 2016
References: Add references at CitEc
Citations: View citations in EconPapers (34)

Downloads: (external link)
http://hdl.handle.net/10.1080/1540496X.2015.1013828 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: Financial System Development and Economic Growth in Transition Economies:New Empirical Evidence from the CEE and CIS Countries (2015)
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:mes:emfitr:v:52:y:2016:i:1:p:223-236

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MREE20

DOI: 10.1080/1540496X.2015.1013828

Access Statistics for this article

More articles in Emerging Markets Finance and Trade from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().