markets. In line with a large recent literature, it is reasonable to expect that financial integration will have a ‘growth … dividend’ in Europe. This Paper attempts to quantify this growth dividend, using both industry and firm-level data to estimate … the empirical relationship between financial market development and growth, and to gauge how it will distribute itself …

perspective on the macroeconomic effects of financial globalization, both in terms of growth and volatility. Overall, our critical … widely-cited claims that financial globalization by itself leads to deeper and more costly developing country growth crises. …The literature on the benefits and costs of financial globalization for developing countries has exploded in recent …

2004) argues that, in the presence of credit market imperfections, financial market globalization may lead to a steady …

probability an individual starts their own business, favours entry, increases competition, and promotes growth of firms. As …

A competitive stock market is embedded into a neoclassical growth economy to analyze the interplay between the … economic growth by raising total factor productivity, but its impact is only transitory. Several predictions on the evolution …

of productivity growth, but the effect depends critically on a country's level of financial development. For countries … with relatively low levels of financial development, exchange rate volatility generally reduces growth, whereas for … rate volatility, and outliers. We also offer a simple monetary growth model in which real exchange rate uncertainty …