Caporale, Guglielmo Maria; Rault, Christophe; Sova, Robert - Institute for the Study of Labor (IZA) - 2014
This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the … relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the … that their contribution to economic growth is limited owing to a lack of financial depth. By contrast, a more efficient …