productive and active VC industry boosts innovation driven growth. …

During the last years the relationship between financial development and economic growth has received widespread … attention in the literature on growth and development. This paper summarises in its first part the results of this research …, stressing the growth-enhancing effects of an increased interpersonal re-allocation of resources promoted by financial …

aggregate saving rate, productivity growth and lending. Meanwhile, a genuine increase in the average individual propensity to …

Up to a point, banks and markets both foster economic growth. Beyond that limit, expanded bank lending or market …-based financing no longer adds to real growth. But when it comes to moderating business cycle fluctuations, banks and markets differ …

with economic growth at both country and industry levels. Liquidity creation boosts tangible, but not intangible investment … and does not contribute to growth in countries with a high share of intangible-asset industries. These results are …

fluctuations in the aggregate saving rate, productivity growth and lending. Meanwhile, a genuine increase in the average individual …