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Financial services firms play a key role in the European economy. The efficiency and profitability of these firms and the competition among them have an impact on allocation of savings, financing of investment, economic growth, the stability of the financial system and the transmission of...
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Throughout much of the twentieth century, economists paid little heed to the role of financial intermediaries in procuring a beneficial allocation of capital. But by the end of the century some financial historians had begun to turn the tide, and the phrase 'finance-growth nexus' became part of...
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economic history strongly complements the extensive empirical research by King and Levine (1993) and many others who have … the concept of financial revolutions. They argue based on the history of the Netherlands, Great Britain, the United States … banking system; a central bank; and well- functioning securities markets"-- …
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