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Author : Robert Graham King,Ross Levine
Publisher : World Bank Publications
Page : 49 pages
File Size : 52,6 Mb
Release : 1993
Category : Desarrollo economico
ISBN : 8210379456XXX
Author : Mr. Ross Levine
Publisher : International Monetary Fund
Page : 80 pages
File Size : 47,8 Mb
Release : 2021-06-11
Category : Business & Economics
ISBN : 9781513583365
Finance and growth emerged as a distinct field of economics during the last three decades as economists integrated the fields of finance and economic growth and then explored the ramifications of the functioning of financial systems on economic growth, income distribution, and poverty. In this paper, I review theoretical and empirical research on the connections between the operation of the financial system and economic growth and inequality. While subject to ample qualifications, the preponderance of evidence suggests that (1) financial development—both the development of banks and stock markets—spurs economic growth and (2) better functioning financial systems foster growth primarily by improving resource allocation and technological change, not by increasing saving rates. Some research also suggests that financial development expands economic opportunities and tightens income distribution, primarily by boosting the incomes of the poor. This work implies that financial development fosters growth by expanding opportunities. Finally, and more tentatively, financial innovation—improvements in the ability of financial systems to ameliorate information and transaction costs—may be necessary for sustaining growth.
Author : Asli Demirgüç-Kunt,Ross Levine
Publisher : Unknown
Page : 1616 pages
File Size : 49,7 Mb
Release : 2018-07-27
Category : Economic development
ISBN : 1785367420
This two-volume collection brings together major contributions to the study of finance and growth. It includes conceptual and empirical papers that use a range of methodologies to discover the connections between financial systems - including financial contracts, markets, and intermediaries - and the functioning of the economy - including economic growth, entrepreneurship, technological innovation, poverty alleviation, the distribution of income, and the structure and volatility of economies. It also discusses contributions to the study of the legal, political, institutional, social capital and policy determinants of financial development. With an original introduction by the editors, this collection is an important resource for students, academics and practitioners.
Author : Mr.Jean-Louis Arcand,Mr.Enrico Berkes,Ugo Panizza
Publisher : International Monetary Fund
Page : 50 pages
File Size : 53,8 Mb
Release : 2012-06-01
Category : Business & Economics
ISBN : 9781475526103
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a negative effect on output growth when credit to the private sector reaches 100% of GDP. We show that our results are consistent with the "vanishing effect" of financial development and that they are not driven by output volatility, banking crises, low institutional quality, or by differences in bank regulation and supervision.
Author : Charles Albert Eric Goodhart
Publisher : Unknown
Page : 221 pages
File Size : 46,5 Mb
Release : 2004
Category : Economic development
ISBN : 033371461X
Seven financial economists explore the links between financial development and growth. The text seeks to answer the question of the role of finance in promoting sustainable growth and in the reduction of poverty, for example via micro-financial institutions.
Author : P.K. Rao
Publisher : Springer Science & Business Media
Page : 246 pages
File Size : 53,9 Mb
Release : 2013-04-09
Category : Business & Economics
ISBN : 9783662065709
Improved understanding of the key role of financial aspects in the growth and development of economic systems is an important aspect of economic analysis. This first textbook on development finance provides a comprehensive coverage of this new area of economics. The book integrates relevant theoretical approaches and their policy applications. A unique perspective combines transaction cost economics and neoclassical economics. The author also treats important policy issues of national and international relevance.
Author : Ross Levine
Publisher : Unknown
Page : 130 pages
File Size : 48,5 Mb
Release : 2004
Category : Economic development
ISBN : UCSD:31822033211400
"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"--NBER website
Author : Mohamed Sami Ben Ali
Publisher : Palgrave Macmillan
Page : 0 pages
File Size : 47,6 Mb
Release : 2015-11-19
Category : Business & Economics
ISBN : 1137486465
Using cases on individual countries, Economic Development in the Middle East and North Africa offers diverse theoretical and empirical evidence on a variety of issues facing policymakers, investors, and other stakeholders in the region.
Author : Philippe Aghion,Céline Antonin,Simon Bunel
Publisher : Harvard University Press
Page : 401 pages
File Size : 48,9 Mb
Release : 2021-04-20
Category : Business & Economics
ISBN : 9780674971165
From one of the world’s leading economists and his coauthors, a cutting-edge analysis of what drives economic growth and a blueprint for prosperity under capitalism. Crisis seems to follow crisis. Inequality is rising, growth is stagnant, the environment is suffering, and the COVID-19 pandemic has exposed every crack in the system. We hear more and more calls for radical change, even the overthrow of capitalism. But the answer to our problems is not revolution. The answer is to create a better capitalism by understanding and harnessing the power of creative destruction—innovation that disrupts, but that over the past two hundred years has also lifted societies to previously unimagined prosperity. To explain, Philippe Aghion, Céline Antonin, and Simon Bunel draw on cutting-edge theory and evidence to examine today’s most fundamental economic questions, including the roots of growth and inequality, competition and globalization, the determinants of health and happiness, technological revolutions, secular stagnation, middle-income traps, climate change, and how to recover from economic shocks. They show that we owe our modern standard of living to innovations enabled by free-market capitalism. But we also need state intervention with the appropriate checks and balances to simultaneously foster ongoing economic creativity, manage the social disruption that innovation leaves in its wake, and ensure that yesterday’s superstar innovators don’t pull the ladder up after them to thwart tomorrow’s. A powerful and ambitious reappraisal of the foundations of economic success and a blueprint for change, The Power of Creative Destruction shows that a fair and prosperous future is ultimately ours to make.
Author : Klaus Liebscher,Josef Christl,Peter Mooslechner,Doris Ritzberger-Grünwald
Publisher : Edward Elgar Publishing
Page : 570 pages
File Size : 40,7 Mb
Release : 2007-01-01
Category : Political Science
ISBN : 9781847203038
Financial industries in central, eastern and south-eastern Europe have undergone dramatic changes over the past decade. Foreign direct investment contributed to the development of market-oriented banking and financial systems able to support the rapid pace of economic growth in these countries. Policymakers, academics and private sector analysts have contributed to this volume with their stimulating insights on a broad range of issues, from recent credit booms to the cross-border integration of banking and capital markets. Anyone who wants to understand how finance, growth and financial stability interact in transition economies should read this book. Mario Draghi, Governor of the Banca d Italia and Chairman of the Financial Stability Forum This book highlights the achievements and challenges of the ongoing process of financial integration in Europe. The financial integration of Europe is both welcomed as an economic driving force and watched with concern as a source of potential stability. After all, changing financial, regulatory and corporate ownership structures are fuelling competition, capital mobility and financial intermediation, but at the same time creating new systemic risks. With a special focus on Central, Eastern and South-Eastern Europe, the contributors to this book explore a wide spectrum of underlying issues, including the finance-growth nexus, credit boom patterns, the implications of foreign bank entry modes, lessons learned from old EU member states and commercial bank strategies. Authoritative views from central bank officials and policymakers are complemented with a special focus on empirical and econometric evidence from academia as well as practical insights from key financial market players. This unique collection will be of great interest to economists and experts in the fields of financial markets and European integration from central, commercial and investment banks, governments, international organizations, universities and research institutes.
Author : World Bank
Publisher : World Bank Publications
Page : 187 pages
File Size : 43,7 Mb
Release : 2010-02-12
Category : Business & Economics
ISBN : 9780821382264
“The crisis has deeply impacted virtually every economy in the world, and although growth has returned, much progress in the fight against poverty has been lost. More difficult international conditions in the years to come will mean that developing countries will have to place even more emphasis on improving domestic economic conditions to achieve the kind of growth that can durably eradicate poverty.� —Justin Yifu Lin, Chief Economist and Senior Vice President The World Bank 'Global Economic Prospects 2010: Crisis, Finance, and Growth' explores both the short- and medium-term impacts of the financial crisis on developing countries. Although global growth has resumed, the recovery is fragile, and unless business and consumer demand strengthen, the world economy could slow down again. Even if, as appears likely, a double-dip recession is avoided, the recovery is expected to be slow. High unemployment and widespread restructuring will continue to characterize the global economy for the next several years. Already, the crisis has provoked large-scale human suffering. Some 64 million more people around the world are expected to be living on less than a $1.25 per day by the end of 2010, and between 30,000 and 50,000 more infants may have died of malnutrition in 2009 in Sub-Saharan Africa, than would have been the case if the crisis had not occurred. Over the medium term, economic growth is expected to recover. But increased risk aversion, a necessary and desirable tightening of financial regulations in high-income countries, and measures to reduce the exposure of developing economies to external shocks are likely to make finance scarcer and more costly than it was during the boom period. As a result, just as the ample liquidity of the early 2000s prompted an investment boom and an acceleration in developing-country potential output, higher costs will likely yield a slowing in developing-country potential growth rates of between 0.2 and 0.7 percentage points, and as much as an 8 percent decline in potential output over the medium term. In the longer term, however, developing countries can more than offset the implications of more expensive international finance by reducing the cost of capital channeled through their domestic financial markets. For more information, please visit www.worldbank.org/gep2010. To access Prospects for the Global Economy, an online companion publication, please visit www.worldbank.org/globaloutlook.
Author : Anonim
Publisher : World Bank Publications
Page : 52 pages
File Size : 46,9 Mb
Release : 2024-07-04
Category : Electronic
ISBN : 8210379456XXX
Author : Tijana Tufek-Memišević,Maja Arslanagić-Kalajdžić,Naida Ademović
Publisher : Springer Nature
Page : 360 pages
File Size : 52,5 Mb
Release : 2022-10-15
Category : Social Science
ISBN : 9783031177675
This book presents interdisciplinary research and scientific outcomes in sustainable development acquired from the BHAAAS International Conference on Sustainable Development-ICSD2022 as part of the 13th Days of Bosnian-Herzegovinian American Academy of Arts and Sciences held in Sarajevo, June 23-26, 2022. The main event enabled researchers and experts from 25 countries to exchange their knowledge, ideas and experiences. The general scope of the book includes topics presented at three specialized symposia: The Quadruple Helix Approach, Sustainable Urban Development and Sustainable Civil Engineering with research topics ranging from SDGs, sustainable development education, environmental and social responsibility and consumption to sustainable retrofit strategies, urban heritage conservation, urban mobility, Space Syntax analysis, watercourse recovery, railway corridors and more. The book is recommended for fellow researchers, professionals, and students in the fields of economy, politics, architecture, urban planning, civil engineering and related fields.
Author : Roman Tomasic
Publisher : Routledge
Page : 562 pages
File Size : 44,8 Mb
Release : 2017-07-05
Category : History
ISBN : 9781351571548
The shift of economic gravity towards East Asia requires a critical examination of law's role in the Asian Century. This volume explores the diverse scholarly perspectives on law's role in the economic rise of East Asia and moves from general debates, such as whether law enjoys primacy over culture, state intervention or free markets in East Asian capitalism, to specific case studies looking at the nature of law in East Asian negotiations, contracts, trade policy and corporate governance. The collection of articles exposes the clefts and cleavages in the scholarly literature explaining law's form, function and future in the Asian Century.
Author : Asli Demirguc-Kunt
Publisher : World Bank Publications
Page : 82 pages
File Size : 41,9 Mb
Release : 2008
Category : Access to Finance
ISBN : 8210379456XXX
Abstract: The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development.