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Financial Development and Economic Growth: Views and Agenda
Ross Levine,Ross Levine +1 more
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TLDR
The authors argue that the preponderance of theoretical reasoning and empirical evidence suggests a positive, first-order relationship between financial development and economic growth, and that the development of financial markets and institutions is a critical and inextricable part of the growth process and away from the view that the financial system is an inconsequential sidehow, responding passively to economic growth.Abstract:
This critique argues that the preponderance of theoretical reasoning and empirical evidence suggests a positive, first-order relationship between financial development and economic growth. The body of work would push even most skeptics toward the belief that the development of financial markets and institutions is a critical and inextricable part of the growth process and away from the view that the financial system is an inconsequential sideshow, responding passively to economic growth. Many gaps remain, however, and the paper highlights areas in acute need of additional research.read more
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Financial development, technology, growth and performance: Evidence from the accession to the EU
TL;DR: In this article, the authors investigate eight Central and Eastern European countries that recently joined the EU and find that financial development and investment in information and communications technology (ICT) have significant positive impacts on GDP during macroeconomic structural reforms.
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The Sources of Economic Growth: An Overview
Norman Loayza,Raimundo Soto +1 more
TL;DR: The importance of economic growth cannot be overstated as discussed by the authors, and economic growth is essential for achieving economic, social, and even political development, which greatly facilitates the implementation of public programs that complement its effects and correct its deficiencies, even if its direct beneficial impacts are modest.
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Impact of Institutional Credit on Agricultural Output: A Case Study of Pakistan
TL;DR: In this article, the role of credit to agricultural sector in Pakistan has been analyzed and the empirical findings show that there is a significant role played by credit in agriculture sector, which helps the farmers to buy modern and expensive inputs such as tractor, tubewel, seeds, fertilizers etc.
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Assessing the Benefits to Developing Countries of Liberalisation in Services Trade
TL;DR: The authors discusses the potential impacts of services trade liberalisation on developing countries and reviews existing quantitative studies, and concludes by evaluating econometric studies on linkage between services liberalisation and country growth rules, and briefly discusses some key sectoral issues in health services and transportation.
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The dynamics of banking sector and stock market maturity and the performance of Asian economies : Time series evidence
TL;DR: In this article, the authors examine the nature of causal relations between banking sector maturity, stock market maturity, and four aspects of performance and operation of the economy: economic growth, inflation, openness in trade, and the degree of government involvement in the economy.