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Economies respond differently to aggregate shocks that reduce output. While some countries rapidly recover their pre-crisis trend, others stagnate. Recent studies provide empirical support for a link between aggregate growth and plant dynamics through its effect on productivity: the entry and...
Persistent link: https://www.econbiz.de/10013225158
This paper reviews the evolving literature that links financial development, financial crises, and economic growth in the past 20 years. The initial disconnect—with one literature focusing on the effect of financial deepening on long-run growth and another studying its impact on volatility and...
Persistent link: https://www.econbiz.de/10012922229
investment, financial depth, inflation stabilization, public infrastructure, governance, labor-market flexibility, ease of firm …
Persistent link: https://www.econbiz.de/10013212607