Determinants of Financial Development in Iran

It has been widely discussed in the financial development literature that repressive financial policies have an adverse impact on financial development process in developing countries. Against this backdrop, the purpose of this study is to investigate the determinants of financial development in Iran assess whether financial repression has a significant impact on financial development using annual data spanning the period between 1965 and 2006. For this purpose, the time-series econometric technique of Johansen Cointegration analysis has been used.