ISBN:
0080461131
Content:
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.
In:
Handbook of economic growth ; 1A, Amsterdam : Elsevier, 2005, (2005), Seite 865-934, 0080461131
In:
9780080461137
In:
9780444520418
In:
0444520414
In:
0444520414
In:
0080461131
In:
year:2005
In:
pages:865-934
Language:
English
DOI:
10.1016/S1574-0684(05)01012-9
URL:
Volltext
(Deutschlandweit zugänglich)
