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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