Authors: Ved Pal Sheera; Ashwani Bishnoi
Addresses: Haryana School of Business, Guru Jambheshwar University of Science & Technology, Hisar (Haryana)-125001, India ' Department of Economics, Central University of Haryana, Mohindergarh, India
Abstract: This study is an attempt to highlight the financial deepening in Newly Industrialised Economies in Asian region. The Principal Component Analysis technique is employed to get the single dimension of financial deepening. The financial systems of China and Singapore economies have witnessed a surge in the financial deepening index in recent years whereas Hong Kong and Korea are found for decline in the index for same period. It is found that market-based system is boosting the overall financial system of Singapore whereas the financial systems of China, Hong Kong and Korea are equally attended by both types of environment.
Keywords: financial deepening; emerging economies; financial sector; principal component analysis; PCA; Asia; Singapore; China; Hong Kong; Korea; economic growth; financial performance indicators; newly industrialised economies; NIEs.
International Journal of Economic Policy in Emerging Economies, 2012 Vol.5 No.2, pp.122 - 139
Available online: 12 Aug 2012 *Full-text access for editors Access for subscribers Purchase this article Comment on this article