haku: @author Levine, R. / yhteensä: 21
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| Tekijä: | Levine, R. Zervos, S. |
| Otsikko: | Stock markets, banks and economic growth |
| Lehti: | American Economic Review
1998 : JUN, VOL. 88:3, p. 537-558 |
| Asiasana: | STOCK MARKETS BANKRUPTCY ECONOMIC GROWTH |
| Kieli: | eng |
| Tiivistelmä: | Do well-functioning stock markets and banks promote long-run economic growth? This paper shows that stock market liquidity and banking development both positively predict growth, capital accumulation, and productivity improvements when entered together in regressions, even after controlling for economic and political factors. The results are consistent with the views that financial markets provide important services for growth, and that stock markets provide different services from banks. |
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