CAN OPENNESS HYPOTHESIS IMPROVE POLITICAL ECONOMY OF PAKISTANS FINANCIAL MARKET

http://dx.doi.org/10.31703/gpr.2018(III-I).06      10.31703/gpr.2018(III-I).06      Published : Jun 1
Authored by : JawadAhmad , SaniaZehraa , NoorJehan

06 Pages : 56-65

References

  • Ahmad, J. (2019). Determinants of Financial Development and Their Impact on Financial Integration (unpublished). University of Kassel.
  • Amna, K. (2011, November). History of banking in Pakistan - of humble origins and vast potential. The Express Tribune. Retrieved from https://tribune.com.pk/story/286458/history-of-banking-inpakistan--of-humble-origins-and-vastpotential/?__cf_chl_jschl_tk__=4261526a7bc056a66f5c595d3be3cca6f6b5d6e6-1577746853- 0-ATYZg3QpIqXCo2CnSD6ihV- _2AR8nYsNGBoDxpvqsygXusvSOXSTbM_abCQ2UTWzdd3ag6OAtWw
  • Ang, J. (2008). A Survey of Recent Developments in the Literature of Finance and Growth. Ssrn, 22(3), 536-576.
  • Ang, J. S., & Boyer, C. M. (2000). Finance and Politics: Special Interest Group Influence during the Nationalization and Privatization of Conrail. SSRN Electronic Journal.
  • Baltagi, B. H., Demetriades, P. O., & Law, S. H. (2009). Financial development and openness: Evidence from panel data. Journal of Development Economics, 89(2), 285-296.
  • Beck, T., Demirgüç-Kunt, A., Levine, R., Demirg-Kunt, A., & Levine, R. (2003). Law, endowments, and finance. Journal of Financial Economics, 70(2), 137-181.
  • Beck, T., Levine, R., & Loayza, N. (2000). Finance and the sources of growth. Journal of Financial Economics, 58(1-2), 261-300.
  • Chinn, M. D., & Ito, H. (2006). What matters for financial development? Capital controls, institutions, and interactions. Journal of Development Economics, 81(1), 163-192.
  • Daron, A., Simon, J., & Robinson. James A. (2011). The Colonial Origins of Comparative Development: An empirical investigation. The American Economic Review, 91(5), 1369-1401.
  • Demetriades, P., & Law, S. H. (2007). Financial Development, Openness and Institutions:Evidence from Panel Data (No. 07/05). Working Paper. University of Leicester
  • Demetriades, P. O., & Andrianova, S. (2004). Finance and Growth: What We Know and What We Need To Know. In Financial Development and Economic Growth (pp. 1-25). Springer.
  • Din, M.-U. (2004). Exports, Imports, and Economic Growth in South Asia: Evidence Using a Multivariate Time-series Framework. The Pakistan Development Review (Vol. 43).
  • Din, M.-U., Ghani, E., & Siddique, O. (2003). Openness and Economic Growth in Pakistan. The Pakistan Development Review (Vol. 42).
  • Gurley, J. G., & Shaw, E. S. (1955). Financial aspects of economic development. The American Economic Review, 45(4), 515-538.
  • Huang, W. (2006). Emerging markets financial openness and financial development. efm.bris.ac.uk. Retrieved from http://www.efm.bris.ac.uk/economics/working_papers/pdffiles/dp06588.pdf
  • Huang, Y., & Temple, J. (2005). Does External Trade Promote Financial Development? Discussion Paper Series- Centre for Economic Policy Research London, (05), ALL.
  • Kose, A., Prasad, E., Rogoff, K., & Shang, J. W. (2006). Financial Globalization: A Reappraisal (No. 12484). Working Paper
  • Kroszner, R. S. (1999). Is It Better to Forgive than to Recieve?Repudiation of the Gold indexation clause in Long-Term Debt during the Great Depression.
  • La Porta, R., Lopez-De-Silanes, F., Shleifer, A., & Vishny, R. W. (1997). Legal determinants of external finance. Journal of Finance, 52(3), 1131-1150.
  • La, R., Silanes, F. L. De, Shleifer, A., Vishny, R. W., Journal, S., & December, N. (1998). Law and Finance. Journal of Political Economy, 106(6), 1113-1155.
  • Lane, P. R., & Milesi-Ferretti, G. M. (2007). The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970-2004. Journal of International Economics, 73(2), 223-250.
  • Law, S. H. (2008). Does a country's openness to trade and capital accounts lead to financial development? Evidence from Malaysia. Asian Economic Journal, 22(2), 161-177.
  • Levchenko, A. A., & Quy-Toan, D. (2004). Trade and Financial Development * Quy-Toan Do The World Bank (WPS No. 3347).
  • Levine, R. (1997). Financial Development and Economic Growth : Views and Agenda. Journal of Economic Literature, 35(2), 688-726.
  • Levine, R. (2004). Finance and Growth : Theory and Evidence. NBER WORKING PAPER SERIES; Handbook of Economic Growth, (September), 0-117.
  • Luigi, G., Paola, S., & Luigi, Z. (2004). The Role of Social Capital in Financial Development. American Economic Review, 94(3), 526-556.
  • McKinnon, R. (1973). Money and capital in economic development. Book. Washington, DC: Brookings Institution.
  • McKinnon, R. I. (1991). Financial Control in the Transition from Classical Socialism to a Market Economy. Journal of Economic Perspectives, 5(4), 107-122.
  • Ozdemir, Durmus, Erbil, C. (2008). Does Financial Liberalization Trigger long-run Economic Growth ? Evidence from Turkey and Other Recent EU Members.
  • Rajan, R. G., & Zingales, L. (2003). The great reversals: The politics of financial development in the twentieth century. Journal of Financial Economics, 69(1), 5-50.
  • Robinson, J. (1952). The Generalisation of the General Theory and other Essays (second). Macmillan, London.
  • Rodrik, D. (1998). Who Needs Capital Account Convertibility. (No. Princeton Essay in International Finance.).
  • Shahbaz, M., Azim, P., & Ahmad, K. (2011). Exports-led growth hypothesis in Pakistan: further evidence. Asian Economic and Financial Review, 1(3), 182-197.
  • Shaw, E. S. (1973). Financial deepening in economic development. New York, NY (USA) Oxford Univ. Press.
  • Stulz, R. M., & Williamson, R. (2003). Culture, openness, and finance. Journal of Financial Economics, 70(3), 313-349.
  • Thorsten Beck, A. D.-K. and R. L. (2000). A New Database on Financial Development and Structure,. World Bank Economic Review, 14, 597-605.
  • Zhang, C., Zhu, Y., & Lu, Z. (2015). Trade openness, financial openness, and financial development in China. Journal of International Money and Finance, 59, 287-309.

References

  • Ahmad, J. (2019). Determinants of Financial Development and Their Impact on Financial Integration (unpublished). University of Kassel.
  • Amna, K. (2011, November). History of banking in Pakistan - of humble origins and vast potential. The Express Tribune. Retrieved from https://tribune.com.pk/story/286458/history-of-banking-inpakistan--of-humble-origins-and-vastpotential/?__cf_chl_jschl_tk__=4261526a7bc056a66f5c595d3be3cca6f6b5d6e6-1577746853- 0-ATYZg3QpIqXCo2CnSD6ihV- _2AR8nYsNGBoDxpvqsygXusvSOXSTbM_abCQ2UTWzdd3ag6OAtWw
  • Ang, J. (2008). A Survey of Recent Developments in the Literature of Finance and Growth. Ssrn, 22(3), 536-576.
  • Ang, J. S., & Boyer, C. M. (2000). Finance and Politics: Special Interest Group Influence during the Nationalization and Privatization of Conrail. SSRN Electronic Journal.
  • Baltagi, B. H., Demetriades, P. O., & Law, S. H. (2009). Financial development and openness: Evidence from panel data. Journal of Development Economics, 89(2), 285-296.
  • Beck, T., Demirgüç-Kunt, A., Levine, R., Demirg-Kunt, A., & Levine, R. (2003). Law, endowments, and finance. Journal of Financial Economics, 70(2), 137-181.
  • Beck, T., Levine, R., & Loayza, N. (2000). Finance and the sources of growth. Journal of Financial Economics, 58(1-2), 261-300.
  • Chinn, M. D., & Ito, H. (2006). What matters for financial development? Capital controls, institutions, and interactions. Journal of Development Economics, 81(1), 163-192.
  • Daron, A., Simon, J., & Robinson. James A. (2011). The Colonial Origins of Comparative Development: An empirical investigation. The American Economic Review, 91(5), 1369-1401.
  • Demetriades, P., & Law, S. H. (2007). Financial Development, Openness and Institutions:Evidence from Panel Data (No. 07/05). Working Paper. University of Leicester
  • Demetriades, P. O., & Andrianova, S. (2004). Finance and Growth: What We Know and What We Need To Know. In Financial Development and Economic Growth (pp. 1-25). Springer.
  • Din, M.-U. (2004). Exports, Imports, and Economic Growth in South Asia: Evidence Using a Multivariate Time-series Framework. The Pakistan Development Review (Vol. 43).
  • Din, M.-U., Ghani, E., & Siddique, O. (2003). Openness and Economic Growth in Pakistan. The Pakistan Development Review (Vol. 42).
  • Gurley, J. G., & Shaw, E. S. (1955). Financial aspects of economic development. The American Economic Review, 45(4), 515-538.
  • Huang, W. (2006). Emerging markets financial openness and financial development. efm.bris.ac.uk. Retrieved from http://www.efm.bris.ac.uk/economics/working_papers/pdffiles/dp06588.pdf
  • Huang, Y., & Temple, J. (2005). Does External Trade Promote Financial Development? Discussion Paper Series- Centre for Economic Policy Research London, (05), ALL.
  • Kose, A., Prasad, E., Rogoff, K., & Shang, J. W. (2006). Financial Globalization: A Reappraisal (No. 12484). Working Paper
  • Kroszner, R. S. (1999). Is It Better to Forgive than to Recieve?Repudiation of the Gold indexation clause in Long-Term Debt during the Great Depression.
  • La Porta, R., Lopez-De-Silanes, F., Shleifer, A., & Vishny, R. W. (1997). Legal determinants of external finance. Journal of Finance, 52(3), 1131-1150.
  • La, R., Silanes, F. L. De, Shleifer, A., Vishny, R. W., Journal, S., & December, N. (1998). Law and Finance. Journal of Political Economy, 106(6), 1113-1155.
  • Lane, P. R., & Milesi-Ferretti, G. M. (2007). The external wealth of nations mark II: Revised and extended estimates of foreign assets and liabilities, 1970-2004. Journal of International Economics, 73(2), 223-250.
  • Law, S. H. (2008). Does a country's openness to trade and capital accounts lead to financial development? Evidence from Malaysia. Asian Economic Journal, 22(2), 161-177.
  • Levchenko, A. A., & Quy-Toan, D. (2004). Trade and Financial Development * Quy-Toan Do The World Bank (WPS No. 3347).
  • Levine, R. (1997). Financial Development and Economic Growth : Views and Agenda. Journal of Economic Literature, 35(2), 688-726.
  • Levine, R. (2004). Finance and Growth : Theory and Evidence. NBER WORKING PAPER SERIES; Handbook of Economic Growth, (September), 0-117.
  • Luigi, G., Paola, S., & Luigi, Z. (2004). The Role of Social Capital in Financial Development. American Economic Review, 94(3), 526-556.
  • McKinnon, R. (1973). Money and capital in economic development. Book. Washington, DC: Brookings Institution.
  • McKinnon, R. I. (1991). Financial Control in the Transition from Classical Socialism to a Market Economy. Journal of Economic Perspectives, 5(4), 107-122.
  • Ozdemir, Durmus, Erbil, C. (2008). Does Financial Liberalization Trigger long-run Economic Growth ? Evidence from Turkey and Other Recent EU Members.
  • Rajan, R. G., & Zingales, L. (2003). The great reversals: The politics of financial development in the twentieth century. Journal of Financial Economics, 69(1), 5-50.
  • Robinson, J. (1952). The Generalisation of the General Theory and other Essays (second). Macmillan, London.
  • Rodrik, D. (1998). Who Needs Capital Account Convertibility. (No. Princeton Essay in International Finance.).
  • Shahbaz, M., Azim, P., & Ahmad, K. (2011). Exports-led growth hypothesis in Pakistan: further evidence. Asian Economic and Financial Review, 1(3), 182-197.
  • Shaw, E. S. (1973). Financial deepening in economic development. New York, NY (USA) Oxford Univ. Press.
  • Stulz, R. M., & Williamson, R. (2003). Culture, openness, and finance. Journal of Financial Economics, 70(3), 313-349.
  • Thorsten Beck, A. D.-K. and R. L. (2000). A New Database on Financial Development and Structure,. World Bank Economic Review, 14, 597-605.
  • Zhang, C., Zhu, Y., & Lu, Z. (2015). Trade openness, financial openness, and financial development in China. Journal of International Money and Finance, 59, 287-309.

Cite this article

APA

    APA : Ahmad, J., Zehraa, S., & Jehan, N. (2018). Can Openness Hypothesis Improve Political Economy of Pakistans Financial Market?. Global Political Review, III(I), 56-65. https://doi.org/10.31703/gpr.2018(III-I).06

CHICAGO

    CHICAGO : Ahmad, Jawad, Sania Zehraa, and Noor Jehan. 2018. "Can Openness Hypothesis Improve Political Economy of Pakistans Financial Market?." Global Political Review, III (I): 56-65 doi: 10.31703/gpr.2018(III-I).06

HARVARD

    HARVARD : AHMAD, J., ZEHRAA, S. & JEHAN, N. 2018. Can Openness Hypothesis Improve Political Economy of Pakistans Financial Market?. Global Political Review, III, 56-65.

MHRA

    MHRA : Ahmad, Jawad, Sania Zehraa, and Noor Jehan. 2018. "Can Openness Hypothesis Improve Political Economy of Pakistans Financial Market?." Global Political Review, III: 56-65

MLA

    MLA : Ahmad, Jawad, Sania Zehraa, and Noor Jehan. "Can Openness Hypothesis Improve Political Economy of Pakistans Financial Market?." Global Political Review, III.I (2018): 56-65 Print.

OXFORD

    OXFORD : Ahmad, Jawad, Zehraa, Sania, and Jehan, Noor (2018), "Can Openness Hypothesis Improve Political Economy of Pakistans Financial Market?", Global Political Review, III (I), 56-65

TURABIAN

    TURABIAN : Ahmad, Jawad, Sania Zehraa, and Noor Jehan. "Can Openness Hypothesis Improve Political Economy of Pakistans Financial Market?." Global Political Review III, no. I (2018): 56-65. https://doi.org/10.31703/gpr.2018(III-I).06