This paper studies the effects of financial liberalization and banking crises on growth. It shows that financial … liberalization spurs on average economic growth. Banking crises are harmful for growth, but to a lesser extent in countries with open … affects growth directly. The empirical analysis is performed through GMM dynamic panel data estimations on a panel of 90 …

The growth effects of international financial liberalization and integration are investigated using the methodology and … not experience higher growth in value added in countries with liberalized financial markets. Liberalization does, however …, increase the growth rates of both production and firm creation among externally dependent industries - given that countries …