Finance, Financial Sector Policies, and Long-Run Growth

Demirgü ; ç ; -Kunt, Asli ; Levine, Ross

World Bank, Washington, DC

关键词: ACCESS TO FINANCIAL SERVICES;    ACCESS TO INFORMATION;    ACCOUNTING;    ACCOUNTING STANDARDS;    ACTIVE MARKETS;   

RP-ID  :  57711

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

In this paper, authors first review theliterature on the relation between finance and growth.Theory provides ambiguous predictions concerning thequestion of whether financial development exerts a positive,causative impact on long-run economic growth. The secondpart of this paper reviews the literature on the historicaland policy determinants of financial development.Governments play a central role in shaping the operation offinancial systems and the degree to which large segments ofthe financial system have access to financial services. Theauthors discuss the relationship between financial sectorpolicies and economic development. The remainder of thepaper proceeds as follows. Sections one and two reviewtheory and evidence on the relation between finance andgrowth. Section three turns to an examination of financialsector policies, and section four concludes.