Finance and growth
Subtitle: theory and evidence
By: Ross Levine.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10766; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10766.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Finance.; Economic development.; Financial institutions.
Description: "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"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/14/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.