This paper reports the findings of Granger causality tests on the relationship between foreign direct investment (henceforth, FDI) and local financial market development across 62 countries from 1996 to 2007. In this paper we explore whether local financial market development is important in...

This paper examines the effects of structural changes in financial system on corporate finance and governance in Japan, and discusses the future directions. The primary purpose of the study is twofold: to identify important features of changes in financial system in Japan and their effects on...