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A sound and efficient financial system is an indispensable ingredient of economic growth. It consists primarily of banks and capital markets, which channel savings into investments and other productive activities that contribute to economic growth and augment the economy's productive capacity....
Persistent link: https://www.econbiz.de/10011305264
A large empirical literature finds that financial development is beneficial for economic growth, although some recent evidence suggests otherwise. We contribute to the finance-growth literature by examining the role of credit growth skewness and long-run growth. Earlier literature found that...
Persistent link: https://www.econbiz.de/10011913754
by 2035 which is more than the 22 billion tons experts see as the maximum sustainable emissions for the whole world. To …
Persistent link: https://www.econbiz.de/10010367324
world productivity growth was led by fast-growing newly emerging economies, whereas most developed countries experienced a …
Persistent link: https://www.econbiz.de/10008658803
Asia is aging, although there is significant heterogeneity across subregions and economies. Population aging poses two strategic challenges for the region: sustaining economic growth and delivering old-age economic security. In this paper, we leverage the lifecycle perspective-that individuals'...
Persistent link: https://www.econbiz.de/10013329396
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We review the growth experience of middle-income countries. Economic factors associated with growth appear to differ between middle income and other countries. The efficiency of the financial system is importantly related to the growth rate in low- and middle-income countries, but appears to...
Persistent link: https://www.econbiz.de/10011703225
The central objective of our paper is to empirically examine the relationship between financial development and income inequality. Theoretically, there are grounds for both a positive and negative relationship between the two variables. Our main finding is that financial development contributes...
Persistent link: https://www.econbiz.de/10011305273
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