the relationship between finance and growth. Section I describes the role of financial development in economic growth at …

growth. Recently concerns have been expressed about the stability of the financial system; however the guarded assessment …

This paper analyzes the effects of fiscal convergence on business cycle volatility and growth. Using a panel 21 OECD … business cycle volatility through higher fiscal convergence stimulates growth. Our empirical results are economically and …

The recent period of sustained high growth in the United States has drawn attention to its financial system and the … allocation and growth. It provides evidence suggesting that legal and regulatory framework conditions for financial systems, and … financial development and growth — over and above the links via investment — indicating impacts via overall economic efficiency …

global financial markets. A gradual increase in interest rates, in the context of strong growth and rising equity values …

helped to stabilise financial markets and avoid deflation. Nonetheless, GDP growth has been sluggish and in some countries … not show up in stronger growth due to a combination of three factors. First, lower policy interest rates may not have … decline in potential GDP growth in the wake of the crisis. Second, balance sheet adjustments of non-financial companies and …