1 Subjects: “...Emerging and frontier financial markets...”

2 “... estimates for a panel of 23 emerging market countries during 1970-2000. Unlike previous studies, we allow...”

3 “... in typical emerging-market economies, including a bank-credit channel and the role of external debt...”

4 Subjects: “...Emerging and frontier financial markets...”

5 Subjects: “...Emerging and frontier financial markets...”

6 Subjects: “...Emerging and frontier financial markets...”

7 Subjects: “...Emerging and frontier financial markets...”

8 “.... This paper presents new econometric estimates for a panel of 25 emerging market countries over 1970-2001...”