Financial development, financialisation and economic growth
AbstractThe paper reviews the theoretical arguments which have been advanced on the relationships between economic growth and growth of the financial sector. This is followed by a similar discussion on financial repression and financial liberalisation. Growth of the financial sector and de-regulation are considered as two important features of financialisation. The differences between bank-based and market based financial systems are briefly explored as is the question of whether the financial sector is now too large. The paper is completed by overviews of the empirical results on the relationship between growth of the financial sector and economic growth and on financial liberalisation.
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Bibliographic InfoPaper provided by Financialisation, Economy, Society & Sustainable Development (FESSUD) Project in its series Working papers with number wpaper21.
Length: 36 pages
Date of creation: 20 Jan 2014
Date of revision:
Contact details of provider:
Postal: FESSUD Co-ordinator (Malcolm Sawyer) Leeds University Business School Maurice Keyworth Buidling Leeds LS2 9JT
financial development; financial liberalisation; financial repression; financialisation;
Find related papers by JEL classification:
- G01 - Financial Economics - - General - - - Financial Crises
- G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
- G20 - Financial Economics - - Financial Institutions and Services - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-04-18 (All new papers)
- NEP-CFN-2014-04-18 (Corporate Finance)
- NEP-GRO-2014-04-18 (Economic Growth)
- NEP-PKE-2014-04-18 (Post Keynesian Economics)
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