%0 Journal Article
%T Impact of Financial Liberalization on Financial Depth in Iraq
%A Ammar Hamad Khalaf
%J Review of Finance and Banking
%D 2011
%I Bucharest Academy of Economic Studies
%X This paper examines the Mackinnon-Show hypothesis i.e. financial liberalizationpromotes financial depth in case of Iraq. Iraq launched a comprehensive program of economicand financial liberalization since 2003. Thus, this paper aims to answer the key question that¡°is financial liberalization stimulated the financial depth in Iraq?¡±. By applying the ARDLAutoregressive Distributed Lag model on quarterly data during the period 2005- 2010, thepaper finds that the liberalization of interest rates as a proxy of financial liberalizationstimulated the financial depth only in the long-run in the case of Iraq.
%K financial liberalization
%K financial depth
%K ARDL approach for cointegration
%K Iraq
%U http://rfb.ase.ro/articole/P1.pdf