economic growth that has accumulated over the past quarter-century. The bulk of the historical evidence suggests that financial … development a¤ects economic growth in a positive, monotonic way, yet recent research endeavors have provided useful and important … society, as well as the channels through which finance can slow down long-term growth. …

We show that countries that take on more international risk are rewarded with higher expected consumption growth …. International risk is defined as the beta of a country’s consumption growth with world consumption growth. High-beta countries hold … is negatively correlated with expected consumption growth. Therefore, uninsured shocks affect not only current growth …

growth. We further demonstrate that banking market structure can be responsible for the emergence of development traps in … competition ; economic growth ; oligopoly ; lending …

, innovations, and the advance of human knowledge - the rate of growth of capacity has slowed. [...] …

, innovations, and the advance of human knowledge-the rate of growth of capacity has slowed. The past quarter century witnessed the …

Micro, small and medium-sized firms (MSMEs) are a key source of employment and economic growth in Indonesia. They …, curbing their role in boosting living standards. There are several ways to spur MSME productivity growth over the medium term …

This paper analyzes growth and welfare effects of income taxation in a stochastic endogenous growth model with … effect on the expected growth rate. Paradoxically, this may induce welfare gains. The opposite results can be derived for a … ascribed to the specific int eraction of consumption and portfolio choice in the determination of growth and welfare. …

effects of bank competition on economic growth. We obtain them developing a dynamic, general equilibrium model of capital …

development and growth. The financial system, however, is also subject to boom and bust cycles and fragility, with negative … literature – the finance and growth literature, the literature on financial fragility, and the politics and finance literature …