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ANY policy makers and academics contend that foreign direct investment (FDI) can have important positive effects on a host country’s development. 1 In addition to the direct capital nancin...
This paper evaluates the ináuence of Önancial development on the global operations of multinational Örms. Using detailed U.S. data, we provide evidence that host-country Önancial devel...
What determines the choice of countries' trade partners? We show theoretically and empirically thatnancial market imperfections affect the number and identity of exporters' destinations. Big...
This paper examines the effect of foreign direct investment (FDI) on growth by focusing on the complementarities between FDI inflows and financial markets. In our earlier work, we found that FDI is be...
We examine the extent to which financial market development impacts the diffusion of 16 major technologies, looking across 55 countries, from 1870 to 2000. We find that greater depth in financial mark...
In 1980, India nationalized its large private banks. This induced different bank ownership patterns across different towns, allowing credible identification of the effects of bank ownership on financi...
Deals with the promotion of financial services as global products. Approaches to developing financial markets; Difference between the spirit of a financial market development tool and the direct appli...
We show that institutions that promote financial development ease borrowing constraints by lowering the collateral spread and shifting the composition of acceptable collateral towards firm-specific as...
We make the first attempt in the literature to empirically investigate the role of financial development in the choice of exchange rate regimes. Using a binary choice model, we first show that financi...
The study examined effects of financial development and foreign direct investment on economic growth in Nigeria.
This paper presents an empirical analysis of the controversial relationship between financial system development and economic development.Using cointegration and VAR estimations on annual data from Af...

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