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...

The relationship between financial development and economic growth has been subjected to several debates by various authors. It has been argued that a competitive and efficient financial sector is a prerequisite for economic growth and development. The objective of this study therefore is to examine the relationship between bank competition and economic growth in Nigeria for the period 1986 – 2...

Productivity growth and efficiency improvements are the major sources of economic development. Pure efficiency, scale efficiency, and technology are basic factors, and rules and regulations and balance are recently known factors affecting the productivity growth. This paper focuses on the effect of manpower ethics and physical space facilities of bank branches as two factors affecting the Malmq...

a r t i c l e i n f o This paper analyses how the quality of governance, the size of public spending, and economic development affect the relationship between bureaucratic corruption and economic growth. The analysis shows that the interaction between corruption and governance shapes the efficiency of public spending, which in turn, determines the growth effects of corruption. Specifically, cor...

One of the most important effective factors in the economic growth is the increased efficiency of manufacturing sectors. Thus, it is necessary to review and measure the efficiency of business units from a variety of dimensions to plan the increase of efficiency in future courses. One of these dimensions is the economics to scale (ES) referring to the concept of enhanced earnings due to the incr...

Since the middle of the eighteenth century, manufacturing has functioned as the main engine of economic growth and development. However, in recent research, questions have been raised concerning the continued importance of the manufacturing sector for economic development. This paper reexamines the role of manufacturing as a driver of growth in developing countries in the period 1950-2005. The ...

a r t i c l e i n f o Keywords: Economic efficiency Oil consumption DEA window analysis Dynamic panel data models This paper investigates the economic efficiency–oil consumption relationship in 42 countries during the period 1986–2006. In a first stage by using DEA window analysis countries' economic efficiencies are obtained. In a second stage an econometric analysis based on robust GMM estima...