Financial development, political rights, civil liberties and economic growth: evidence from South Asia

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Institutional infrastructure and economic growth in member countries of the Organization of Islamic Cooperation (OIC) (2015, background): “1 Huang's (2010) studies show that political institutions can affect the level of financial development and hence economic growth through the investment channels, suggesting that the extent of benefits from financial development depends on governance (see also Anwar and Cooray, 2012).”
Institutional Quality and Financial Development: Evidence from Developing and Emerging Economies (2020, background): “Other studies such as Anwar and Cooray (2012) have proposed that the quality institutions affect the level of financial development, which implies that the extent of the benefits from financial development depend on the quality of governance.”