In this paper, authors first review the literature on the relation between finance and growth. Theory provides ambiguous predictions concerning the question of whether financial development exerts a positive, causative impact on long-run economic growth. The second part of this paper reviews the literature on the historical and policy determinants of financial development. Governments play a central role in shaping the operation of financial systems...
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2008/01/01
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Documento de Trabalho (Série Numerada)
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57711
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1
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1
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2010/11/25
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Disclosed
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Finance, financial sector policies, and long-run growth
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financial system
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