Role of Financial Markets and Institutions in Economic Growth: A Decomposed Analysis
Author: Alishbah Gul

This particular research investigates the most recent Financial Development Index Database provided by International Monetary Fund to present a decomposed analysis of the region-wise financial sector development and its impact on economic growth in both developed and developing countries. In this regard, this study includes panel dataset of 73 countries (41 countries are developed whereas remaining 32 are developing countries) and 37 years. Since the fixed-effect model is one of the best techniques to measure the cross sectional differences over a long period, this study will make use of the model along with random-effect model to investigate the relationship between (decomposed) financial development and economic growth. Hausman test will be applied as a model specification test to choose between the two models. The results of the study successfully indicate towards prevalence of strong relationship between the two variables under discussion in both developed and developing countries. Supervisor:- Dr. Muhammad Jamil Co-Supervisor:- Dr. Ahsan ul Haq

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Keywords : Economic Growth, Financial Depth, Financial Institutions, Financial Market Accessibility, Financial Market Efficiency, Financial Markets, Panel Data Models
Supervisor: Muhammad Jamil
Cosupervisor: Ahsan ul Haq

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