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Title:The finance-growth nexus revisited: From origins to a modern theoretical landscape PDF Logo
Authors:Stolbov, Mikhail
Issue Date:2012
Series/Report no.:Economics Discussion Papers 2012-45
Abstract:The paper is a survey of theoretical and empirical approaches applied to analyze the impact of financial system on economic growth. The key issues of the modern theories of the finance-growth nexus are discussed and the theories are classified on the basis of the methodology they rely on. The paper extends earlier overviews of the topic, tracking and seeking to explain an inherent logic of this research program, its evolution, and some issues not covered in other surveys such as the finance-growth nexus in resource rich economies. The challenges this research program is facing are also identified.
Subjects:financial system
financial development
financial repression
economic growth
JEL:E44
O11
O16
Creative Commons License:http://creativecommons.org/licenses/by-nc/2.0/de/deed.en
Document Type:Working Paper
Appears in Collections:Economics: The Open-Access, Open-Assessment E-Journal - Discussion Papers

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