This paper employs data from 103 developing countries between 1981 and 2012 to examine the determinants of private savings in sub-Saharan Africa (SSA), with a focus on the effect of financial liberalization on private savings. It also analyses why the savings rate for SSA countries is lower than...

This paper employs data from 103 developing countries between 1981 and 2012 to examine the determinants of private savings in sub-Saharan Africa (SSA), with a focus on the effect of financial liberalization on private savings. It also analyses why the savings rate for SSA countries is lower than...

We revisit the effects of globalisation over the past 50 years in a large sample of advanced and emerging countries. We use accessions to \Globalisation Clubs" (WTO, OECD, EU), financial liberalisation and an instrument for trade openness to study the trade-off between efficiency (proxied by...

We revisit the effects of globalisation over the past 50 years in a large sample of advanced and emerging countries. We use accessions to \Globalisation Clubs" (WTO, OECD, EU), financial liberalisation and an instrument for trade openness to study the trade-off between efficiency (proxied by...

Studies on money supply determinants focus on the Classicists or Monetarists, Key-nesians and post-Keynesians variables like income and money multiplier. This re-search extends the literature on money supply determinants to include the influ-ence of financial liberalization on money supply with...

This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth (i.e., the sum of asset wealth and human wealth). We propose a heterogeneous agent framework with incomplete markets where financial liberalization, by signalling a future...

This paper investigates the impact of financial liberalization on the relationship between consumption and total wealth (i.e., the sum of asset wealth and human wealth). We propose a heterogeneous agent framework with incomplete markets where financial liberalization, by signalling a future...

Studies on money supply determinants focus on the Classicists or Monetarists, Key-nesians and post-Keynesians variables like income and money multiplier. This re-search extends the literature on money supply determinants to include the influ-ence of financial liberalization on money supply with...

Complete financial markets allow countries to share their consumption risks internationally, thereby creating welfare gains through lower volatility of aggregate consumption. This paper empirically looks at international consumption risk sharing and its determinants in a panel of 120 countries...

I estimate a panel vector autoregressive model (PVAR) to study the impact of financial liberalisation on income inequality. The analysis is carried out for 162 countries over the period 1980-2015. The results show that capital account liberalisation and financial development increase inequality....

Complete financial markets allow countries to share their consumption risks internationally, thereby creating welfare gains through lower volatility of aggregate consumption. This paper empirically looks at international consumption risk sharing and its determinants in a panel of 120 countries...

Financial repression (legal restrictions on interest rates, credit allocation, capital movements, and other financial operations) was widely used in the past but was largely abandoned in the liberalization wave of the 1990s, as widespread support for interventionist policies gave way to a...

I estimate a panel vector autoregressive model (PVAR) to study the impact of financial liberalisation on income inequality. The analysis is carried out for 162 countries over the period 1980-2015. The results show that capital account liberalisation and financial development increase inequality....

This chapter takes a historical overview of financial liberalization, and its subsequent impact on economic growth of Pakistan. Canada's Fraser Institute publishes the "Economic Freedom of the World (EFW)" Index every year, ranking the countries according to the developments occurring in...

Building on Vinhas de Souza (and Vinhas de Souza and Tudela), this chapter briefly describes the historical process of financial liberalization and integration of Baltic and Central European Countries (BCECs) since the 1990s. It investigates the hypotheses that the type of financial integration...

Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result...

Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result...

The ratio of consumption to total household wealth (i.e., tangible assets plus unobserved human wealth) is commonly calculated from the estimation of a log-linear version of the household intertemporal budget constraint as a cointegrating relationship between consumption, assets and earnings...

The People's Republic of China (PRC) is beginning a new wave of financial liberalization, which is necessary to support strong economic growth, but will financial liberalization lead to major financial crises, as happened in many middle-income countries? The empirical examinations conducted in...

The People's Republic of China (PRC) is beginning a new wave of financial liberalization, which is necessary to support strong economic growth, but will financial liberalization lead to major financial crises, as happened in many middle-income countries? The empirical examinations conducted in...

Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result...

Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result...

This study examines the impact of financial liberalization on economic growth, given the discrepancy and the gap in the literature, using a sample of 30 sub-Saharan African (SSA) countries. The study applies a dynamic panel estimation to examine the special role of financial liberalization and...

This paper examines whether the effect of financial liberalization on economic growth depends on reform complementarities. A non-linear growth regression specification that interacts a proxy of financial liberalization with proxies of reform complementarities is estimated using a panel of 45...

This study examines the impact of financial liberalization on economic growth, given the discrepancy and the gap in the literature, using a sample of 30 sub-Saharan African (SSA) countries. The study applies a dynamic panel estimation to examine the special role of financial liberalization and...