This paper reviews the economic theory and available evidence with particular focus on three questions: how does financial development affect economic growth; what are the features of a growth supportive financial structure; how are financial structures related to structural change and technical progress?.
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Paper provided by Commission of the EC, Directorate-General for Economic and Financial Affairs (DG ECFIN) in its series European Economy - Economic Papers with number
158.
Find related papers by JEL classification: G15 - Financial Economics - - General Financial Markets - - - International Financial Markets O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
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