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Financial repression refers to any of measures that government employs to prevent the financial intermediaries of an economy from functioning at their full capacity. On the contrary, financial deepening refers to the increased provision of financial services with a wider choice of services geared to all levels of society, which is the process of relieving financial constraint. With the theory of financial repression and financial deepening, the purpose of this paper is to focus on the performance of the financial repression in China and its influences on the financing of the small- and medium-sized enterprises (SMEs).

The work procedure is as follows: first, the monetization rate and financial interrelations ratio (FIR) are defined to measure the degree of financial repression; next, the classical GM(1,1) model and the metabolic GM(1,1) model are established, respectively, comparison is given out to show which model owns better adaptability. Finally, with metabolic GM(1,1) model, this paper predicts the monetization ratio and FIR in the next few years properly.

Unlike other theories which ascribe the financing difficulty of the SMEs to various factors, the paper argues that the financial repression in China should be responsible for the financing difficulty of the SMEs based on the theory of financial repression and financial deepening.

This paper points out that measures should be taken to accelerate the progress of the reform of interest rates and promote the efficiency of the financial market system as well as establish the multi-level capital market system for the SMEs to overcome the difficulty.

This study investigated the interactive impact of global and domestic stock market variables on the depth of the financial system in Sub-Saharan African (SSA) countries from 1990 to 2018.

The study used the mean group and pooled mean group estimators for the dynamic heterogeneous panel.

The results provide strong statistical evidence that the depth of the financial system in SSA countries is influenced by a combination of local and international stock market indicators. While the local variables exert a positive influence, the global indicator tends to negatively affect the depth of the system, particularly the monetization ratio.

While the tendency of portfolio adjustments and reversal can be inferred, the study stresses the need for a more globalized approach to financial policy formulation and implementation even as the trend of global financializaton gets more robust and more profound.

This study is unique in that, unlike prior ones, it has extended the debate on the role of the stock market in financial deepening from a domestic to an international dimension. Financial policy making can be aided by the authors' findings through looking at the financial deepening-stock market linkage from both domestic and globalized perspectives.

The purpose of this paper is to examine the relationship that exists between financial depth and economic growth in Poland for the years 1995–2019. This paper utilizes integration and co-integration techniques to capture the long-term and short-term linkages between various determinants of financial deepening, economic growth and a few selected growth variables. Financial depth is measured using two distinct measures: the monetization ratio (i.e. the ratio of broad money in the economy to the gross domestic product (GDP)) and the domestic credit provided to private sector by banks.

The paper uses a combination of Augmented Dickey–Fuller (ADF) and Phillips–Perron unit root tests, autoregressive distributive lag (ARDL) model and Granger causality tests to estimate results.

This paper finds that there is a bidirectional causal relationship between financial deepening and economic growth in the short run, but this relationship does not hold in the long run. The control variables comprising trade volume, investment, government spending and volatility in oil prices and inflation have a significant, positive relationship with economic development in the long run.

The findings are indicative of the need for further strengthening of the financial sector in Poland, such that the relationship between financial depth and economic growth is substantiated in the long run. This paper also finds room for more stringent regulation of the financial system and transparency in information available.

The comparison between economic growth and the character of monetary policy is one of the most frequently studied issues in policymaking. However, the number of studies incorporating a dynamic time warping approach to analyse the similarity of macroeconomic variables is relatively small.

The study aims at assessing the mutual similarity among various variables representing the financial sector (including the monetary policy by the central bank) and the real sector (e.g. economic growth, industrial production, household consumption expenditure), as well as cross-similarity between both sectors.

The analysis is based on the dynamic time warping (DTW) method, which allows for capturing various dimensions of changes of considered variables. This method is almost non-existent in the literature to compare financial and economic time series. The application of this method constitutes the main area of value added of the research. The analysis includes five variables representing the financial sector and five from the real sector. The study covers four countries: Czechia, Hungary, Poland and Romania and the 2010–2022 period (quarterly data).

The results show that variables representing the financial sector, including those reflecting monetary policy, are weakly correlated with each other, whereas the variables representing the real economy have a solid mutual similarity. As regards individual variables, for example, GDP fluctuations show relatively substantial similarity to ROE fluctuations – especially in Czechia and Hungary. In the case of Hungary and Romania, CAR fluctuations are consistent with GDP fluctuations. In the case of Poland and Hungary, there is a relatively strong similarity between the economy's monetisation and economic growth. Comparing the individual countries, two clusters of countries can be identified. One cluster includes Poland and Czechia, while another covers Hungary and Romania.

As the grey systems theory has been used over the time in different economic areas, in the following, a short literature review will be put forward, starting from the usage of these theory in the supply chain management, decision-making process, financial performance evaluation, credit risk, energy consumption, investment efficiency, etc. The purpose of this paper is to identify some key studies from all the economic areas in which the grey systems can be used in order to open and to bring to the researchers new domains in which they can manifest their interest and in which they can successfully use the methods offered by the grey systems theory.

Using the search engine offered by the Web of Science, a literature review has been performed for the economic grey systems applications developed over the time on both economic diagnosis and system’s forecasting. In addition, some hybrid grey systems theory – artificial intelligence techniques models have also been presented.

The grey systems theory has brought its contribution to numerous economic application from various fields such as: supply chain management, decision-making process, financial performance evaluation, credit risk, energy consumption, investment efficiency, firms’ bankruptcy, product development, consumer income, monetization ratio, etc.

The present paper identifies the some of the most representative examples in which the grey theory has been used, but, in the same time, there are a lot of studies that have not been mentioned here due to the lack of space.

Unlike other review papers written on the grey systems theory area, the present paper is only focusing on the economic applications in which this theory has been successfully used, bringing to the reader a general overview on this field and, in the same time, enabling new research perspectives.

The purpose of this paper is to examine the inter‐temporal causal relationship between financial sector development and poverty reduction in Zambia. The paper attempts to answer one critical question: does financial sector development in Zambia lead to poverty reduction?

The paper uses the newly developed autoregressive distributed lag‐bounds testing procedure, which has numerous advantages, especially when the sample size is small. In addition, the paper uses three proxies of financial development, namely broad money supply (M2/GDP), domestic credit to the private sector as a ratio of gross domestic product (DCP/GDP) and domestic money bank assets (DMBA), against private per capita consumption, a proxy for poverty reduction.

When the broad money supply ratio (M2/GDP) is used as a proxy for financial sector development, poverty reduction seems to cause the development of the financial sector. However, when the DCP and the DMBA are used, financial development seems to cause poverty reduction, and not the other way round.

The empirical results of this paper show that the causal relationship between financial development and poverty reduction is sensitive to the choice of proxy used for financial development.

This paper is the first of its kind to empirically examine the causal relationship between financial deepening and poverty reduction in Zambia using modern econometrics techniques.

UK companies have to pay the same real interest rates as European and North American companies, but they are in general less profitable so there is less breathing space between profits and interest. Consequences include short‐termism by both the City which is reluctant to lend and companies which are reluctant to borrow when investment is so risky. Another consequence is that UK Boards of Directors are dominated by accountants rather than those who lead production, research and marketing. The real rate of return is best raised by increasing productivity more than wages and by moving up‐market where higher margins can be earned. Industry′s difficulty is that moving up‐market involves R&D which cannot easily be financed when profit rates are only slightly above interest rates. Emphasizes the advantages to industry of low inflation, low government borrowing and a tight control over public expenditure leading to internationally low tax rates.

The purpose of this paper is to investigate asymmetric cointegration and causality effects between financial development and economic growth for South African data spanning over the period of 1992-2013.

This study makes the use of the momentum threshold autoregressive (M-TAR) approach which allows for threshold error-correction (TEC) modeling and Granger causality analysis between the variables. In carrying out an empirical analysis, the author uses six measures of the financial development variables against gross domestic per capita, that is, three measures which proxy banking activity and another three proxies for stock market development.

The empirical results generally indicate an abrupt asymmetric cointegration relationship between banking activity and economic growth, on the one hand, and a smooth cointegration relationship between stock market activity and economic growth, on the other hand. Moreover, causality analysis generally reveals that while banking activity tends to Granger cause economic growth, stock market activity is, however, caused by economic growth increase.

This study contributes to the literature by examining asymmetries in the cointegration and causality relations by using both banking and stock market proxies against economic growth for the South African economy.

Using the notions of unit root, cointegration theory and Granger‐Akaike’s synthesis of modelling strategy, this paper examines the nature of stationarities, cointegration properties and Granger causal relationship between domestic savings and aid based on a sample of 27 developing countries. The KPSS unit root test results indicate that variables of interest in a trivariate vector autoregressive system such as aid inflows, domestic savings and income exhibit a dissimilar trend in the majority of countries, with the exceptions of Bolivia and Korea. The cointegration test results based on the Johansen and Juselius testing procedure found evidence of cointegration among the variables, domestic savings, aid and income in Bolivia and Korea. However, the presence and direction of causality between aid inflows and domestic savings are mixed across countries. Whilst the findings are indicative of a causal independence in a majority of the cases, little support is attached to either Griffin’s dependency hypothesis or Papaneck’s reverse causality hypothesis.

This paper presents new evidence of the relationship between financial market development (banking sector) and economic growth for a set of seven Middle East and North African economies over the period 1965–2002. We find evidence that in six of the seven countries, banking-sector development Granger causes increases in economic growth. However, in three of those six countries, economic growth also Granger causes banking development. Our co-integration analysis reveals that there is a stable long-run equilibrium relationship between banking-sector development and economic growth for all our countries. However, based on vector error-correction models, there is limited evidence that banking-sector development boosts economic growth in the short run.