Financial system structure and economic growth: Structure matters

被引：68

作者：

Ergungor, O. Emre ^{[1
]}

机构：

[1] Fed Reserve Bank Cleveland, Cleveland, OH USA

来源：

INTERNATIONAL REVIEW OF ECONOMICS & FINANCE | 2008年 / 17卷 / 02期

关键词：

economic growth; judicial flexibility; banks; stock market; financial development;

D O I：

10.1016/j.iref.2006.09.001

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper investigates how the structure of a financial system-whether it is bank or market-oriented-affects economic growth. In contrast to earlier research, which indicates that the financial system's structure is irrelevant for growth, I find that there is a nonlinear (contingent) relationship between growth and financial structure, Countries that have an inflexible judicial system grow faster when they have a more bank-oriented financial system. (C) 2006 Elsevier Inc. All rights reserved.

引用

页码：292 / 305

页数：14

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