and short-term planning horizon can also lead to such underinvestment. Subsequently, banks can stimulate growth …

increases and law and order improves, financial development becomes more effective in reducing inequality. …

The paper surveys the literature on the effects of finance on productivity growth. In both the theoretical and … growth. Focusing on the direct channels of growth, the author has found both positive and negative contribution of finance to … growth. Clearer positive effects emerge when considering growth channels related to productivity dynamics, with the estimated …