We develop a growth model with endogenous technological progress in which the financial sector plays an explicit role. Thereby we discuss the role of different financial regimes in the growth process. We contrast a bank-dominated financial system with a market-dominated system. In the first one...

This book integrates the concept of financial intermediaries with Post-Keynesian macroeconomic modeling to discuss the relationship between financial markets and systems and macroeconomic development by discussing key macroeconomic variables such as investment, savings, and productivity growth.