Narrow search
Showing 1 - 10 of 1,589
Cover Image
Bank-Based or Market-Based Financial Systems : Which is Better?
Levine, Ross - 2008
For over a century, economists and policy makers have debated the relative merits of bank-based versus market …-based financial systems. Recent research, however, argues that classifying countries as bank-based or market is not a very fruitful … robustly linked with economic growth, there is no support for either the bank-based or market-based view …
Persistent link: https://www.econbiz.de/10012774642
Cover Image
Finance and Growth : Theory and Evidence
Levine, Ross - 2004
This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. While subject to ample qualifications and countervailing views, the preponderance of evidence suggests that both financial...
Persistent link: https://www.econbiz.de/10012785451
Cover Image
The Great Reversals : The Politics of Financial Development in the 20th Century
Rajan, Raghuram G. - 2010
We show that the development of the financial sector does not change monotonically over time. In particular, we find that by most measures, countries were more financially developed in 1913 than in 1980 and only recently have they surpassed their 1913 levels. This pattern is inconsistent with...
Persistent link: https://www.econbiz.de/10012763181
Cover Image
Financial Development and Growth in the Short and Long Run
Fisman, Raymond J.; Love, Inessa - 2021
We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial development will devote relatively more resources to industries with a 'natural' reliance on...
Persistent link: https://www.econbiz.de/10013222934
Cover Image
Financial Systems, Economic Growth, and Globalization
Rousseau, Peter L.; Sylla, Richard - 2021
This paper brings together two strands of the economic literature -- that on the finance-growth nexus and that on capital market integration -- and explores key issues surrounding each strand through both institutional/country histories and formal quantitative analysis. We begin with studies of...
Persistent link: https://www.econbiz.de/10013210573
Cover Image
Financial Development and the Composition of Industrial Growth
Fisman, Raymond J.; Love, Inessa - 2021
We re-examine the role of financial market development in the intersectoral allocation of resources. Specifically, we propose the use of a new methodology that looks at the co-movement in growth rates across pairs of countries to examine the role of financial development in allowing firms to...
Persistent link: https://www.econbiz.de/10013242889
Cover Image
The Evolving Importance of Banks and Securities Markets
Demirgüç-Kunt, Asli - 2012
the size of the economy, (2) the association between an increase in economic output and an increase in bank development …
Persistent link: https://www.econbiz.de/10013107516
Cover Image
Financial Development and City Growth : Evidence from Northeastern American Cities, 1790-1870
Bodenhorn, Howard - 2010
urban growth. Our estimates suggest that the presence of a bank at a given location in the late 1830s is associated with …
Persistent link: https://www.econbiz.de/10013143454
Cover Image
Financial Sector Regulation and Reforms in Emerging Markets : An Overview
Prasad, Eswar S. - 2010
This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial...
Persistent link: https://www.econbiz.de/10013137321
Cover Image
Financial Intermediation and Aggregate Fluctuations : A Quantative Analysis
Cooper, Russell - 2010
This paper investigates the quantitative implications of two business cycle models in which aggregate fluctuations arise in response to variations in the process of financial intermediation. In the first, fundamental shocks in the capital accumulation process lead to fluctuations in the real...
Persistent link: https://www.econbiz.de/10013138142