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This study analyzes the impact of financial market liberalization on total factor productivity (TFP) in 16 emerging market economies from 1997 to 2022, using panel data and the generalized method of moments (GMM) technique. The findings indicate that foreign direct investment (FDI) significantly enhances TFP, while the Schindler index, a measure of capital market liberalization, also shows a positive effect. The research concludes that effective institutions and macroeconomic governance are crucial for maxi

Author

Atiq ur Rehman Qamar

Language

EN