Financial Liberalization and Macroeconomic Performance: Empirical Evidence from Selected Asian Countries
|Author(s)||by Muhammad Wajid Raza, Hassan Muhsin|
|Keywords||Financial liberalization, financial depth. Economic growth|
|Open Access||Access PDF Open in New Tab|
Financially repressed economy cannot grow with an increasing growth rate. That‟s why most of the developing countries move toward liberalized financial system. The basic objective of this paper is to provide a comparative analysis of Pakistan, China, and India financial sector liberalization and its impact on macroeconomic performance. This study uses descriptive statistics and Johansen co integration to provide cross country evidence of long run relationship between macroeconomic variables and financial openness. Shocks in short run are captured through VECM and the causal relation is investigated through Granger causality. Analysis shows that there exist long run relationship between financial liberalization and macroeconomic performance. Granger causilty provide evidence for direction of causality in all the three countries. Data is not available on quarterly basis. More variable must be included to measure financial development i.e. liquidity, non performing loans. Policy makers must introduce more financial reforms. Pakistan and china must focus on banking sector. Area of international trade and foreign direct investment must be strengthen.
ARTICLE PROCESSING CHARGE
Online Publication & Two Hard Copies
|International Journal of Empirical Finance||$ 100||$ 170|
|International Journal of Financial Economics||$ 80||$ 150|
|International Journal of Management Sciences||$ 100||$ 170|
|Journal of Empirical Economics||$ 80||$ 150|
|Journal of Education and Literature||$ 60||$ 130|
|Quarterly Journal of Business Studies||$ 50||$ 120|
|Journal of Language and Communication||$ 30||$ 100|
|Studies in Social Sciences and Humanities||$ 80||$ 150|
|Journal of Social Economics||$ 30||$ 100|
|International Journal of Financial Markets||$ 30||$ 100|
|Journal of Public Policy & Governance||$ 30||$ 100|
For a peer-reviewed journal, the publication of articles plays an essential role in the development of a coherent network of knowledge. It is, therefore, essential that all publishers, editors, authors, and reviewers, in the process of publishing the journals, conduct themselves in accordance with the highest level of professional ethics and standards. The publisher is dedicated to supporting the vast efforts of the editors, the academic contributions of authors, and the respected volunteer work undertaken by reviewers. The publisher is also responsible for ensuring that the publication system works smoothly, and that ethical guidelines are applied to assist the editor, author, and reviewer in performing their ethical duties.
The editor has the following responsibilities:
1.The editor should acknowledge receipt of submitted manuscripts within two working days of receipt and ensure an efficient, fair, and timely review process.
2.The editor should ensure that submitted manuscripts are processed in a confidential manner, and that no content of the manuscripts will be disclosed to anyone other than the corresponding author, reviewers, and the publisher, as appropriate.
3.The editor should recuse himself or herself from processing manuscripts if he or she has any conflict of interest with any of the authors or institutions related to the manuscripts.
4.The editor should not disclose the names and other details of the reviewers to a third party without the permission of the reviewers.
5.The editor has the right to make the final decision on whether to accept or reject a manuscript with reference to the significance, originality, and clarity of the manuscript and its relevance to the journal.
6.The editor should by no means make any effort to oblige the authors to cite his or her journal either as an implied or explicit condition of accepting their manuscripts for publication.
7.The editor should not use for his or her own research any part of any data or work reported in submitted and as yet unpublished articles.
8.The editor should respond promptly and take reasonable measures when an ethical complaint occurs concerning a submitted manuscript or a published paper, and the editor should immediately contact and consult with the author. In this case, a written formal retraction or correction may also be required.