2009 XXXIII 4

Stock market and private consumption in Malaysia

Mansor H. Ibrahim
Savings and Development Vol. 33(2009), No. 4, pp. 359-376

The paper analyzes the influence of the stock market on aggregate consumption in Malaysia using a battery of time series approaches – the ARDL cointegration test, an error-correction modeling and a vector autoregression (VAR). In the analysis, [...]

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Financial liberalization and financial development in Iraq

Amar Hamad Khalaf and Athawale Sanhita
Savings and Development Vol. 33(2009), No. 4, pp. 377-404

This paper examines the impact of financial repression policies from 1970 to 2002, and the results of the financial liberalization polices between the years 2003-2007 on the financial development of Iraq. By using the Autoregressive Distributed Lag [...]

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Understanding financial abandoning from a micro perspective: policy responses to promote inclusion in India

M. Mahadeva
Savings and Development Vol. 33(2009), No. 4, pp. 405-430

Financial inclusion measures initiated in India to contain financial abandonment have hardly taken the demand side factors at grass roots level into consideration. The authorities of implementation, including the Reserve Bank of India, operate under [...]

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Les banques étrangères en Asie du Sud-Est: le rôle des local claims

Delphine Lahet
Savings and Development Vol. 33(2009), No. 4, pp. 431-468

The aim of the article is to clarify the role of foreign banks in some Asian emerging countries and to estimate the consequences on economic and financial development. As a measure, we use local claims, and loans activities, of foreign banks’ [...]

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Insurance solvency supervision, European regulation and takaful products

Alberto Dreassi
Savings and Development Vol. 33(2009), No. 4, pp. 469-491

This paper investigates the application of global solvency supervisory principles and the European Solvency II regulatory framework to Takaful schemes, given their growth potential in both Western and Islamic countries. Due to their particular [...]

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