Finance and Growth
Theory and Evidence
Bibliographic Data
| ID | 5776422 |
|---|---|
| Authors | Robert Levine (0000-0002-7459-9541, University of Minnesota, corresponding author), Ross Levine |
| Year | 2004 |
| Publication date | 2004-09-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | REPORT |
| Venue | National Bureau of Economic Research (REPOSITORY) |
| Publisher | National Bureau of Economic Research (PUBLISHER) |
| DOI | 10.3386/w10766 |
| OpenAlex | W2113844427 |
| Language | EN |
| Citations received | 72 |
| References cited | 112 |
This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth.While subject to ample qualifications and countervailing views, the preponderance of evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship.Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth.The paper highlights many areas needing additional research
Causality · Economic growth · Economics · Empirical evidence · Financial economics · Financial intermediary · Financial market · Growth theory · Intermediary · Neoclassical economics · Subject matter · Banking stability, regulation, efficiency · Economic theories and models · Economic Theory and Policy · Finance
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| Unique citing works | 72 |
|---|---|
| Citations per year | 3,27 |
| Citation span | 2004 - 2026 (23) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 70 |