growth, just like Germany had after transition into a market economy in 1949. …

The paper surveys the literature on the effects of finance on productivity growth. In both the theoretical and … growth. Focusing on the direct channels of growth, the author has found both positive and negative contribution of finance to … growth. Clearer positive effects emerge when considering growth channels related to productivity dynamics, with the estimated …

as the consumption-wealth ratio, the growth rate of wealth, and welfare, in a two-country world, based on a portfolio …-wealth ratio, and welfare should be higher in an open economy due to a higher productivity and/or less volatility through risk … sharing. The theoretical results for the growth rate depend on differences on productivities and consumption-wealth ratios …

economic growth. The key issues of the modern theories of the finance-growth nexus are discussed and the theories are … as the finance-growth nexus in resource rich economies. The challenges this research program is facing are also …

-run output effects of the different consolidation strategies, but also regarding the welfare effects and the distributional … of credit-constrained households who cannot smooth consumption has a large impact on the overall output and welfare …

, through a comparison of social welfare given the strategies chosen by the locals governments, that whatever the quality of the …

of this crisis, and in particular a possible link between delayed and unequal growth of household incomes in post …-transition countries on one hand and the instability of their growth and depth of recession after the financial crisis on the other. It … growth, but subject to fluctuations. It claims also that artificially boosted growth of consumption and a favourable …