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Economic Growth Does Finance Matter
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Book Synopsis Economic Growth. Does Finance Matter? by : Niklas Humann
Download or read book Economic Growth. Does Finance Matter? written by Niklas Humann and published by GRIN Verlag. This book was released on 2021-09-23 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2021 in the subject Economics - Finance, grade: 1.0, University of Münster, language: English, abstract: While it is fair to say that almost all countries are better off than they were 70 years ago, this wealth seems to be distributed ever more unequally. One of the most significant questions – not just in economics, but social sciences in general – is how these differences came to be and what can be done to reduce them. Why do some countries thrive while others perish? What determines their growth? This thesis explores one aspect of economic growth: the importance of a well developed, that is deep, accessible, efficient, and stable financial system. The discussion of this finance-growth-nexus can be traced back all the way to Schumpeter (1911) and was more recently revived by King and Levine (1993). Since then, numerous studies have investigated the subject – to this day without reaching a consensus. The objective of this thesis is to not only review some of the empirical and theoretical evidence , but to also replicate and expand on the research with recent data and a novel approach to measuring financial development. To this end, the author has compiled an unbalanced panel of 121 countries over the period from 1960 to 2017, which will serve as a basis for the empirical part of the argumentation
Book Synopsis Introducing a New Broad-based Index of Financial Development by : Katsiaryna Svirydzenka
Download or read book Introducing a New Broad-based Index of Financial Development written by Katsiaryna Svirydzenka and published by International Monetary Fund. This book was released on 2016-01-12 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a vast body of literature estimating the impact of financial development on economic growth, inequality, and economic stability. A typical empirical study approximates financial development with either one of two measures of financial depth – the ratio of private credit to GDP or stock market capitalization to GDP. However, these indicators do not take into account the complex multidimensional nature of financial development. The contribution of this paper is to create nine indices that summarize how developed financial institutions and financial markets are in terms of their depth, access, and efficiency. These indices are then aggregated into an overall index of financial development. With the coverage of 183 countries on annual frequency between 1980 and 2013, the database should offer a useful analytical tool for researchers and policy makers.
Book Synopsis Financial Structure and Economic Growth by : Aslı Demirgüç-Kunt
Download or read book Financial Structure and Economic Growth written by Aslı Demirgüç-Kunt and published by MIT Press. This book was released on 2001 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: CD-ROM contains: World Bank data.
Download or read book Finance and Growth written by Ross Levine and published by . This book was released on 2004 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: "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
Book Synopsis Does Education Matter? by : Alison Wolf
Download or read book Does Education Matter? written by Alison Wolf and published by Penguin UK. This book was released on 2002-05-30 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Education, education, education" has become an obsession for politicians and the public alike. It is seen as an economic panacea: an engine for growth and prosperity. But is there a link between increased spending on higher eductaion and economicgrowth? Professor Alison Wolf takes a critical look at successive governments' education policy and challenges many of the tenets of received wisdom: there are no economic reasons for spending more on higher education in order to stimulate growth. The conclusion of this devastating book is that a large proportion of the billions poured into vocational training and university provision might be better spent on teaching the basics at primary school.
Book Synopsis Finance for Growth by : Alicia García-Herrero
Download or read book Finance for Growth written by Alicia García-Herrero and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we explore empirically a long-standing question in the literature on finance for growth, namely whether the financial structure - in terms of the size of the banking system relative to the capital markets - matters for economic growth. We build upon the existing literature by constructing a new measure of the “balancedness” of the financial structure which is broader, as it includes the domestic bond market as well as external sources of financing. It is also bounded and more linear than existing ones. We find that a more balanced financial structure - in terms of the size of banks relative to the capital markets - is associated with higher economic growth. Such finding points to banks and capital markets being more of a complement than a substitute. This is in line with Greenspan's idea of one market serving as “spare wheel” of the other.
Book Synopsis Economic Growth and Financial Development by : Muhammad Shahbaz
Download or read book Economic Growth and Financial Development written by Muhammad Shahbaz and published by Springer Nature. This book was released on 2021-09-21 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks into the relationship between financial development, economic growth, and the possibility of a potential capital flight in the transmission process. It also examines the important role that financial institutions, financial markets, and country-level institutional factors play in economic growth and their impact on capital flight in emerging economies. By presenting new theoretical insights and empirical country studies as well as econometric approaches, the authors focus on the relationship between financial development and economic growth with capital flight in the era of financial crisis. Therefore, this book is a must-read for researchers, scholars, and policy-makers, interested in a better understanding of economic growth and financial development of emerging economies alike.
Book Synopsis Finance and Growth by : Asli Demirgüç-Kunt
Download or read book Finance and Growth written by Asli Demirgüç-Kunt and published by . This book was released on 2018-07-27 with total page 1616 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Does Finance Matter for Growth? The Case of Developing Countries by : Bilal Mehmood
Download or read book Does Finance Matter for Growth? The Case of Developing Countries written by Bilal Mehmood and published by LAP Lambert Academic Publishing. This book was released on 2013 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book 'Does Finance Matter for Growth? Case of Developing Countries', published by Lap-Lambert is my second with them.This book furnishes milieu of financial sector in developing countries. Empirical analysis of data from developing countries allows to infer the type of famous finance-growth nexus based on literature in 1960s and 1970s by Goldsmith, Cameron, Gerschenkron, McKinnon and Shaw. It sums the debate by agreeing with Lucas (1988) that the importance of financial markets is badly overstressed. Success of finance-growth relationship, in turn, hinges upon other factors such as institutional quality, degree of regulation and supervision, and other structural features of an economy. Hence, it is asserted that the importance of financial markets is still under-assessed. It shall be a pertinent scientific read for people in field of Development Economics.
Download or read book Smart Money written by William Schweke and published by . This book was released on 2004 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Why Does Financial Development Matter? by : Rajeev Harsha Dehejia
Download or read book Why Does Financial Development Matter? written by Rajeev Harsha Dehejia and published by . This book was released on 2003 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a substantial literature arguing that financial development contributes to economic growth. In this paper, we contribute to this literature by examining the effect of state-level banking regulation on financial development and economic growth in the United States from 1900 to 1940. Specifically, we make three contributions. First, drawing on the banking history literature, we carefully control for factors that could confound a causal interpretation of the effect of financial development on growth. Second, drawing on available data for this period, we examine the pathways through which financial development can affect growth; in particular, we examine the impact of these laws on a range of farm, manufacturing, and human capital outcomes. Third, we document that not all forms of financial development have a positive effect on economic growth. In particular indiscriminate lending can negatively impact economic growth
Download or read book Reaching Out written by and published by World Bank Publications. This book was released on 2005 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors (1) present new indicators of banking sector penetration across 99 countries based on a survey of bank regulatory authorities, (2) show that these indicators predict household and firm use of banking services, (3) explore the association between the outreach indicators and measures of financial, institutional, and infrastructure development across countries, and (4) relate these banking outreach indicators to measures of firms' financing constraints. In particular, they find that greater outreach is correlated with standard measures of financial development, as well as with economic activity. Controlling for these factors, the authors find that better communication and transport infrastructure and better governance are also associated with greater outreach. Government ownership of financial institutions translates into lower access, while more concentrated banking systems are associated with greater outreach. Finally, firms in countries with higher branch and ATM penetration and higher use of loan services report lower financing obstacles, thus linking banking sector outreach to the alleviation of firms' financing constraints. "--World Bank web site.
Book Synopsis Too Much Finance? by : Mr.Jean-Louis Arcand
Download or read book Too Much Finance? written by Mr.Jean-Louis Arcand and published by International Monetary Fund. This book was released on 2012-06-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Financial Structure and Economic Development by :
Download or read book Financial Structure and Economic Development written by and published by World Bank Publications. This book was released on 2000 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: A country's level of financial development and the legal environment in which financial intermediaries and markets operate critically influence economic development. In countries whose financial sectors are more fully developed and whose legal systems protect the rights of outside investors, economies grow faster, industries dependent on external finance expand more quickly, new firms are created more easily, firms have more access to external financing, and firms grow faster.
Book Synopsis The Role of Innovation and Entrepreneurship in Economic Growth by : Michael J Andrews
Download or read book The Role of Innovation and Entrepreneurship in Economic Growth written by Michael J Andrews and published by University of Chicago Press. This book was released on 2022-03-17 with total page 633 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Innovation and entrepreneurship are ubiquitous today, both as fields of study and as starting points for conversations among experts in government and economic development. But while these areas on continue to attract public and private investments, many measurements of their resulting economic growth-including productivity growth and business dynamism-have remained modest. Why this difference? Because not all business sectors are the same, and the transformative gains of some industries have been offset by stagnation or contraction in others. Accordingly, a nuanced understanding of the economy requires a nuanced understanding of where innovation and entrepreneurship occur and where they matter. Answering these questions allows for strategic public investment and the infrastructure for economic growth.The Role of Innovation and Entrepreneurship in Economic Growth, the latest entry in the NBER conference series, seeks to codify these answers. The editors leverage industry studies to identify specific examples of productivity improvements enabled by innovation and entrepreneurship, including those from new production technologies, increased competition, new organizational forms, and other means. Taken together, the volume illuminates whether the contribution of innovation and entrepreneurship to economic growth is likely to be concentrated, be it selected sectors or more broadly"--
Book Synopsis Financial Development and Economic Growth by : Mr.Pablo Emilio Guidotti
Download or read book Financial Development and Economic Growth written by Mr.Pablo Emilio Guidotti and published by International Monetary Fund. This book was released on 1992-12-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the empirical relationship between long–run growth and the degree of financial development, proxied by the ratio of bank credit to the private sector as a fraction of GDP. We find that this proxy enters significantly and with a positive sign in growth regressions on a large cross–country sample, but with a negative sign using panel data for Latin America. Our findings suggest that the main channel of transmission from financial development to growth is the efficiency of investment, rather than its volume. We also present a model where the negative correlation between financial intermediation and growth results from financial liberalization in a poor regulatory environment.
Book Synopsis Funding Growth in Bank-based and Market-based Financial Systems by : Asl? Demirgüç-Kunt
Download or read book Funding Growth in Bank-based and Market-based Financial Systems written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 2000 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the relative development of a country's stock market and banking system affects firms' growth is closely tied to how well developed the country's contracting environment is. How differences in the contracting environment affect the relative development of the stock market or banking system may have implications for which firms and which projects get financing.
