the theoretical base of this paper is the economic growth model that completed with capital stocks (private and public) and human capital. at the first, hypothesis test about constant returns to scale is studied, and then the related variables with macroeconomic policies are added to the model. the results show that 1) the aggregate production function exhibits increasing returns to scale, 2) p...

We examine the role of financial development in economic growth in the former Communist countries of Central and Eastern Europe and the Commonwealth of Independent States during the first two decades since the beginning of transition. These countries, which had undeveloped financial systems under Communism, provide an interesting test of the relationship between financial development and growth...

This study is aimed at examining the long run and short run relationships between both Islamic and conventional financial development with the economic growth in the Bahrain dual financial system. Using quarterly data (2000:1-2010:4) retrieved from Monthly Statistical Bulletin of Central bank of Bahrain (CBB) and International Financial Statistics (IFS) of International Monetary Funds (IMF), th...

This paper examines the impact of industrial policy on capital structure based on a partial adjustment model of capital structure that incorporates financial flexibility, macroeconomic conditions, economic development as well as firm-level factors. The issue is investigated in the context of Taiwan where industrial policy is widely considered to have played a strategic role in its economic succ...

Beginning in the mid-1980s, the phenomenon of capital flight from developing countries received considerable attention in the economics literature. Capital flight destroys the domestic macroeconomic environment and decreases transparency and accountability. It restricts financial resources when a country is looking for economic growth and development. The purpose of this article is to measure t...