Open AccessPosted Content
Financial Development and Economic Growth: Views and Agenda
Ross Levine,Ross Levine +1 more
Reads0
Chats0
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
Citations
More filters
Journal ArticleDOI
Financial Development and Economic Growth An Empirical Analysis for Greece
TL;DR: In this article, the causal relationship between financial development and economic growth for Greece for the period 1978-2007 using a Vector Error Correction Model (VECM) was investigated using Granger causality tests.
Journal ArticleDOI
Is there a role for Islamic finance and R&D in endogenous growth models in the case of Indonesia?
TL;DR: In this paper, the relevance of semi-endogenous growth models in explaining Indonesia's economic growth transformation is evaluated using historical time series data (1968 to 2018) by examining the roles of the Islamic financial market, the conventional financial system, and structural changes.
Journal ArticleDOI
Financial development and oil resource abundance–growth relations: evidence from panel data
Siong Hook Law,Maryam Moradbeigi +1 more
TL;DR: The empirical results reveal that oil resource abundance affects the growth rate in output contingent on the degree of development in financial markets, and better financial development can reverse resource curse or enhance resource blessing in oil-rich economies.
Journal ArticleDOI
The impact of regional financial development on economic growth in Beijing–Tianjin–Hebei region: A spatial econometric analysis
Chao Wang,Chao Wang,Xinyi Zhang,Pezhman Ghadimi,Qian Liu,Ming K. Lim,Ming K. Lim,H. Eugene Stanley +7 more
TL;DR: Wang et al. as mentioned in this paper investigated the impact of regional financial development on economic growth in the Beijing-Tianjin-Hebei (BTH) region, with panel data collected from 2007 to 2016.
Journal ArticleDOI
Financial stress dynamics in the MENA region: Evidence from the Arab Spring
TL;DR: In this paper, the impact of instability caused by the Arab Spring on the co-movements and volatility spillovers of aggregated Financial Stress Indices for eight MENA countries is analyzed.