Author: Robert Graham King Publisher: World Bank Publications ISBN: Category : Capital Languages : en Pages : 53
Book Description
Should our research and policy advice be guided by a modern version of capital fundamentalism, in which capital and investment are viewed as the primary determinants of economic development and long- run growth? No. Capital accumulation seems to be part of the process of economic development, not its igniting source.
Author: Robert Graham King Publisher: ISBN: Category : Economic development Languages : en Pages : 52
Book Description
Finance matters. The level of a country's financial development helps predict its rate of economic growth for the following 10 to 30 years. The data are consistent with Schumpeter's view that services provided by financial intermediaries stimulate long- run growth.
Author: Ross Levine Publisher: ISBN: Category : Economic development Languages : en Pages : 130
Book 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"--NBER website
Author: Asli Demirgüç-Kunt Publisher: ISBN: 9781785367427 Category : Economic development Languages : en Pages : 1616
Book Description
This two-volume collection brings together major contributions to the study of finance and growth. It includes conceptual and empirical papers that use a range of methodologies to discover the connections between financial systems - including financial contracts, markets, and intermediaries - and the functioning of the economy - including economic growth, entrepreneurship, technological innovation, poverty alleviation, the distribution of income, and the structure and volatility of economies. It also discusses contributions to the study of the legal, political, institutional, social capital and policy determinants of financial development. With an original introduction by the editors, this collection is an important resource for students, academics and practitioners.
Author: Richard R. Nelson Publisher: Harvard University Press ISBN: 9780674001725 Category : Business & Economics Languages : en Pages : 340
Book Description
Technological advance is the key driving force behind economic growth, argues Richard Nelson. Drawing on a deep knowledge of economic and technological history as well as the tools of economic analysis, he exposes the intimate connections among government policies, science-based universities, and the growth of technology.
Author: Niels Hermes Publisher: Routledge ISBN: 1135635447 Category : Business & Economics Languages : en Pages : 381
Book Description
This collection brings together a collection of theoretical and empirical findings on aspects of financial development and economic growth in developing countries. The book is divided into two parts: the first identifies and analyses the major theoretical issues using examples from developing countries to illustrate how these work in practice; the second part looks at the implications for financial policy in developing countries.
Author: Asli Demirguc-Kunt Publisher: World Bank Publications ISBN: 1464812683 Category : Business & Economics Languages : en Pages : 228
Book Description
In 2011 the World Bank—with funding from the Bill and Melinda Gates Foundation—launched the Global Findex database, the world's most comprehensive data set on how adults save, borrow, make payments, and manage risk. Drawing on survey data collected in collaboration with Gallup, Inc., the Global Findex database covers more than 140 economies around the world. The initial survey round was followed by a second one in 2014 and by a third in 2017. Compiled using nationally representative surveys of more than 150,000 adults age 15 and above in over 140 economies, The Global Findex Database 2017: Measuring Financial Inclusion and the Fintech Revolution includes updated indicators on access to and use of formal and informal financial services. It has additional data on the use of financial technology (or fintech), including the use of mobile phones and the Internet to conduct financial transactions. The data reveal opportunities to expand access to financial services among people who do not have an account—the unbanked—as well as to promote greater use of digital financial services among those who do have an account. The Global Findex database has become a mainstay of global efforts to promote financial inclusion. In addition to being widely cited by scholars and development practitioners, Global Findex data are used to track progress toward the World Bank goal of Universal Financial Access by 2020 and the United Nations Sustainable Development Goals. The database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex.
Author: Mr.Jean-Louis Arcand Publisher: International Monetary Fund ISBN: 1475526105 Category : Business & Economics Languages : en Pages : 50
Book Description
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a negative effect on output growth when credit to the private sector reaches 100% of GDP. We show that our results are consistent with the "vanishing effect" of financial development and that they are not driven by output volatility, banking crises, low institutional quality, or by differences in bank regulation and supervision.
Author: Stephen Bell Publisher: Cornell University Press ISBN: 1501762532 Category : Political Science Languages : en Pages : 306
Book Description
Banking on Growth Models contends that China's rapid economic rise from the late 1970s to today has been built on and shaped by a highly politicized and inefficient bank-centric financial system. Stephen Bell and Hui Feng argue that if the Chinese growth model drives how key economic sectors interact, no amount of incremental reform can have much impact on the financial system—meaningful reform can stem only from a revised growth model. For a time after the global financial crisis, it appeared that the expansion of a more market-oriented shadow banking system might help sustain China's economic growth. Since around 2015, however, Xi Jinping's regime has reversed this trajectory and placed China's financial system under heavy state control, resulting in slowed economic development and skyrocketing national debt. China's market transition and economic rebalancing are now in doubt, as is the fate of the nation's economy. By pinpointing finance as a vital element of the growth model, Bell and Feng provide a convincing assessment of financial risks and the prospects for economic rebalancing in China. Banking on Growth Models demystifies the world of Chinese banking and finance as it investigates an ever-rising national debt, a declining rate of economic growth, and the possibility of dire and drastic reform by the Asian superpower's government.
Author: World Bank Publisher: World Bank Publications ISBN: 0821372920 Category : Business & Economics Languages : en Pages : 268
Book Description
Access to financial services varies sharply around the world. In many developing countries less than half the population has an account with a financial institution, and in most of Africa less than one in five households do. Lack of access to finance is often the critical mechanism for generating persistent income inequality, as well as slower growth. 'Finance for All?: Policies and Pitfalls in Expanding Access' documents the extent of financial exclusion around the world; addresses the importance of access to financial services for growth, equity and poverty reduction; and discusses policy interventions and institutional reforms that can improve access for underserved groups. The report is a broad ranging review of the work already completed or in progress, drawing on research utilizing data at the country, firm and household level. Given that financial systems in many developing countries serve only a small part of the population, expanding access remains an important challenge across the world, leaving much for governments to do. However, not all government actions are equally effective and some policies can be counterproductive. The report sets out principles for effective government policy on broadening access, drawing on the available evidence and illustrating with examples.
Author: Robert Graham King
Author: Robert Graham King
Author: Ross Levine
Author: Asli Demirgüç-Kunt
Author: Richard R. Nelson
Author: Niels Hermes
Author: Asli Demirguc-Kunt
Author: Mr.Jean-Louis Arcand
Author: Stephen Bell
Author: World Bank