Title

Assessing the role of financial deepening in business cycles: The experience of the United Arab Emirates

Document Type

Article

Source of Publication

Applied Financial Economics

Publication Date

4-1-2005

Abstract

The relation between financial market development and the severity of business cycles in the economy of the United Arab Emirates is investigated. No evidence is found of a dampening effect from financial deepening on cyclical fluctuations in the short-run, but strong effects in the long-run. These results extend recent findings on the financial development/economic growth nexus and imply that growth volatility reductions expected from further financial developments are slow to materialize especially in countries with relatively large and well-functioning financial sectors. © 2005 Taylor & Francis Group Ltd.

ISSN

0960-3107

Publisher

Informa UK Limited

Volume

15

Issue

7

First Page

447

Last Page

453

Disciplines

Business

Keywords

business cycle, financial market, Asia, Eastern Hemisphere, Eurasia, Middle East, United Arab Emirates, World

Scopus ID

17744372061

Indexed in Scopus

yes

Open Access

no

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