"While substantial research finds that financial development boosts overall economic growth, we study whether financial …

While substantial research finds that financial development boosts overall economic growth, we study whether financial …

Financial openness is often associated with higher rates of economic growth. We show that the impact of openness on … factor productivity growth is more important than the effect on capital growth. This explains why the growth effects of … that are more financially developed or have higher quality of institutions experience larger productivity growth responses …

, economic growth, and poverty alleviation using a new database on the share of SME labor in the total manufacturing labor force … growth. The data do not, however, confidently support the conclusions that SMEs exert a causal impact on growth. Furthermore …

We measure a country's growth opportunities by investigating how its industry mix is priced in global capital markets … growth opportunities strongly predict future changes in real GDP and investment in a large panel of countries. This relation … re-examine the link between financial development, investor protection, capital allocation, and growth. We find that …

This paper examines whether financial development boosts the growth of small firms more than large firms and hence … provides information on the mechanisms through which financial development fosters aggregate economic growth. We define an … a disproportionately large effect on the growth of industries that are technologically more dependent on small firms …

operation of the financial system and economic growth. While subject to ample qualifications and countervailing views, the … preponderance of evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone … economic growth. The paper highlights many areas needing additional research …

We examine the effects of both equity market liberalization and capital account openness on real consumption growth … variability. We show that financial liberalization is mostly associated with lower consumption growth volatility. Our results are … other variables. Countries that have more open capital accounts experience a greater reduction in consumption growth …