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"This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. While subject to ample qualifications and countervailing views, the preponderance of evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship. Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth. The paper highlights many areas needing additional research"--National Bureau of Economic Research web site.
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Subjects
Economic development, Finance, Financial institutionsEdition | Availability |
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Finance and growth: theory and evidence
2004, National Bureau of Economic Research
Electronic resource
in English
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Book Details
Edition Notes
Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/14/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.
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The Physical Object
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Feedback?December 13, 2020 | Edited by MARC Bot | import existing book |
December 3, 2010 | Edited by Open Library Bot | Added subjects from MARC records. |
December 9, 2009 | Created by WorkBot | add works page |