This chapter examines the direction of causality between financial development and economic growth in 44 developed and developing countries for the period of 1965-2016. Using bank-based indicators, our empirical results provide the evidence of linear Granger-causality running from economic...

This paper assesses whether the linkages between R&D, human capital and productivity growth in a panel of EU manufacturing industries over the period 1980-2002 are affected by a critical level of human capital. To employ our data in an efficient manner, the study makes use of a dynamic...