Skip to Main content Skip to Navigation
Preprints, Working Papers, ...

Financial Markets Banks and Growth: Disentangling the Links

Abstract : The paper reviews the state of the economic literature on the link between financial development and growth. We first examine the issue of measurement of financial development and the debate on the direction of causality between finance and growth. Next, we extensively discuss the various channels through which the financial sector can affect growth, including the increase in the efficiency of capital allocation, the reduction in information costs, the improvement of risk management, and the support of innovation. The analysis is conducted referring both to the theoretical literature and to the most recent empirical findings. We conclude by drawing lessons for the current debate on the reform of the financial sector in the aftermath of the Great Recession.
Document type :
Preprints, Working Papers, ...
Complete list of metadata

https://hal-sciencespo.archives-ouvertes.fr/hal-03460718
Contributor : Spire Sciences Po Institutional Repository Connect in order to contact the contributor
Submitted on : Wednesday, December 1, 2021 - 10:09:16 AM
Last modification on : Friday, March 25, 2022 - 3:38:49 AM

File

wp2013-23.pdf
Publisher files allowed on an open archive

Identifiers

Collections

Citation

Alessandro Giovannini, Maurizio Iacopetta, Raoul Minetti. Financial Markets Banks and Growth: Disentangling the Links. 2013. ⟨hal-03460718⟩

Share

Metrics

Record views

3

Files downloads

2