This chapter attempts to examine systematically the factors that might account for cross-country differences in financial development. It employs two modern quantitative methods, Bayesian Model Averaging (BMA) and General-to-specific (Gets) approaches, to gauge the robustness of a selection of possible determinants of financial development. Special emphasis has been placed on the contributions that institutions, policy and geography may have in developing financial markets.
CITATION STYLE
Huang, Y. (2011). General Determinants of Financial Development. In Determinants of Financial Development (pp. 10–63). Palgrave Macmillan UK. https://doi.org/10.1057/9780230302495_2
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