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Finanzstruktur und Wirtschaftswachstum - theoretische und empirische Aspekte

  • Eckhard Hein

    (Macroeconomic Policy Institute IMK in the Hans Boeckler Foundation)

The bank-based financial systems of Germany and Japan were considered most conducive to growth in the 1980s. After the Japanese stagnation of the 1990s and the most recent slump in Germany, the conviction that the market-based Anglo-American financial systems are a prerequisite for a dynamic economic development has gained ground. However, critics have stressed recently that the strong orientation towards 'share-holder value' comes at the expense of long-term growth. This has induced the author to analyse the long-term relationship between the financial system/structure and economic growth in depth. This study provides theoretical and empirical evidence.

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File URL: http://econwpa.repec.org/eps/mac/papers/0508/0508014.pdf
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Paper provided by EconWPA in its series Macroeconomics with number 0508014.

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Length: 53 pages
Date of creation: 12 Aug 2005
Date of revision:
Handle: RePEc:wpa:wuwpma:0508014
Note: Type of Document - pdf; pages: 53
Contact details of provider: Web page: http://econwpa.repec.org

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