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Conclusion—Rethinking Financial Development in an Interconnected Asia

In: Meta-Analysis of Finance and Growth in Asia

Author

Listed:
  • Amar Anwar

    (Cape Breton University, Shannon School of Business)

  • Ichiro Iwasaki

    (Okinawa University, Department of Law, Economics and Management)

Abstract

As debates about the role of finance in economic development continue to evolve, this study has sought to provide a more structured, comparative, and empirically grounded understanding of the finance–growth nexus in Asia. By synthesizing evidence from 79 studies and more than 750 effect sizes, and by systematically addressing methodological heterogeneity and publication selection bias, this meta-analysis offers a reassessment of where and how financial development contributes to economic growth across the region. The findings speak to both the promise and the complexity of finance in an interconnected Asia: while the overall relationship remains positive and statistically robust, its strength and reliability vary markedly by subregion, by the nature of financial globalization, and by the methodological choices of individual studies. This concluding chapter distills the study’s main insights, reflects on their implications for regional policy and financial reform, and outlines directions for future research.

Suggested Citation

  • Amar Anwar & Ichiro Iwasaki, 2025. "Conclusion—Rethinking Financial Development in an Interconnected Asia," Springer Books, in: Meta-Analysis of Finance and Growth in Asia, chapter 7, pages 91-100, Springer.
    • Handle: RePEc:spr:sprchp:978-3-032-10219-5_7
    DOI: 10.1007/978-3-032-10219-5_7
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