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Finance, financial sector policies, and long-run growth

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  • Demirguc-Kunt, Asli
  • Levine, Ross

Abstract

The first part of this paper reviews the literature on the relation between finance and growth. The second part of the paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems and the degree to which large segments of the financial system have access to financial services. The paper discusses the relationship between financial sector policies and economic development.

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Bibliographic Info

Paper provided by The World Bank in its series Policy Research Working Paper Series with number 4469.

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Date of creation: 01 Jan 2008
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Handle: RePEc:wbk:wbrwps:4469

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Keywords: Debt Markets; Access to Finance; Emerging Markets; Economic Theory&Research;

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References

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Cited by:
  1. Cirmizi, Elena & Klapper, Leora & Uttamchandani, Mahesh, 2010. "The challenges of bankruptcy reform," Policy Research Working Paper Series 5448, The World Bank.
  2. Uddin, Gazi Salah & Sjö, Bo & Shahbaz, Muhammad, 2013. "The causal nexus between financial development and economic growth in Kenya," Economic Modelling, Elsevier, vol. 35(C), pages 701-707.
  3. Zaiter Lahimer, Mahjouba, 2011. "L’impact des entrées de capitaux privés sur la croissance économique dans les pays en développement," Economics Thesis from University Paris Dauphine, Paris Dauphine University, number 123456789/7670 edited by Sterdyniak, Henri, September.
  4. Jean-Pierre Allegret & Cécile Couharde & Dramane Coulibaly & Valérie Mignon, 2013. "Current accounts and oil price fluctuations in oil-exporting countries: the role of financial development," EconomiX Working Papers 2013-29, University of Paris West - Nanterre la Défense, EconomiX.
  5. Philip Arestis & Asena Caner, 2008. "Capital Account Liberalization and Poverty: How Close is the Link?," Working Papers 0811, TOBB University of Economics and Technology, Department of Economics.
  6. Wolde-Rufael, Yemane, 2009. "Re-examining the financial development and economic growth nexus in Kenya," Economic Modelling, Elsevier, vol. 26(6), pages 1140-1146, November.
  7. Jahangir Aziz, 2008. "Deconstructing China’s and India’s Growth: The Role of Financial Policies," Working Papers id:1714, eSocialSciences.
  8. Rashmi Umesh Arora, 2010. "Measuring Financial Access," Discussion Papers in Economics economics:201007, Griffith University, Department of Accounting, Finance and Economics.
  9. Jahangir Aziz, 2008. "Real and Financial Sector Linkages in China and India," IMF Working Papers 08/95, International Monetary Fund.
  10. Orman, Cuneyt, 2008. "Organization of Innovation and Capital Markets," MPRA Paper 22848, University Library of Munich, Germany, revised 21 May 2010.
  11. Anthony Enisan Akinlo & Tajudeen Egbetunde, 2010. "Financial Development and Economic Growth: The Experience of 10 Sub-Saharan African Countries Revisited," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 2(1), pages 017-028, June.

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