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This paper examines how financial development affects technological progress of 55 developing countries over the 2003 to 2016 period, with particular attention to the interaction between R&D spillovers and financial development. We find that financial development induces total factor productivity improvement in developing countries both directly and indirectly. While there has been a profound literature on the direct effect of financial development on total factor productivity improvement, the evidence of an indirect effect is relatively new. Specifically, the indirect effect takes place t...

Oil price fluctuations have always been controversial and remain significant in how a country’s economy develops. It is especially easy for the worldwide price of natural resources to fluctuate, putting developing nations at risk of economic instability. Consider Pakistan’s economy, which is very sensitive to changes in oil prices due to its reliance on the commodity. This research analyses the effects of oil prices on several macroeconomic indicators, including inflation, imports, gross savings, domestic lending to the private sector (DCPS), and industrial value-added in Pakistan. The stu...

/PRNewswire/ -- The TFG Grants Team is pleased to welcome Brandi H. Clarke as Grants Project Manager. Brandi brings over 20 years of experience as a grant...

Financial Secretary Paul Chan Mo-po, said the HKSAR government is actively preparing to launch a Renminbi counter for Stock Connect program.

Hong Kong actively preparing to launch RMB counter for Stock Connect program: financial secretary-