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Finance and Growth: What We Know and What We Need To Know

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posted on 2009-04-29, 10:27 authored by Panicos O. Demetriades, Svetlana Andrianova
The paper reviews recent literature on the relationship between finance and growth, highlighting areas where we need to know more. The paper argues that institutions, such as financial regulation, have a first-order effect on financial development and growth, and that their effectiveness could determine the success or failure of policies like bank privatisation or financial liberalisation. It concludes that a better understanding of the obstacles to financial development, which include institutional, legal and political economy constraints, is needed.

History

Publisher

Dept. of Economics, University of Leicester.

Available date

2009-04-29

Publisher version

http://www.le.ac.uk/economics/research/discussion/papers2003.html

Book series

Discussion Papers in Economics;03/15

Language

en

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