Financial globalization and economic growth in South Asia: an empirical investigation

This study shows empirically that the capital flows outcomes is largely explained by the quality of governance in region specific in South-Asia and individual country cases for Bangladesh, Bhutan, Nepal, Pakistan and Sri Lanka. India’s case seems different in the sense that other macroeconomic variables also expected in impacting the capital flows. The findings have important implications for enhancing the quality of governance in the study-region and developing and poor-developed countries as well where it generally see poor state of governance.