This paper investigates the microeconomic effects of financial development on economic growth. The increased … availability of credit is usually expected to improve firms’ growth due to the elimination of credit constraints. We investigate … rapid economic growth and underlying structural changes. We examine how changes in the level credit over GDP in Indian …

that financial development is regularly included among the conditions for economic growth and catch up of developing …

Our work contributes to the literature relating output structure and economic development by showing that growth gains … capabilities available for domestic firms operating in ordinary trade is an important driver of economic growth. However, no direct … technology adoption to be growth enhancing. …

Strong credit growth rates in transition countries may result from a normal catching-up process in a framework of … of credit booms, in several CEECs in 2005-2007. Second, we assess the “normal” growth of credit with regard to … fundamentals through econometric estimations. Credit growth is also shown to have been excessive in several countries just before …