This paper examines how financial development affects the sources of growth-productivity and investment-using a sample … economic growth. We cannot confirm earlier findings of an unambiguously positive relationship between financial development … development on the sources of growth varies across income levels and regions …

A large theoretical and empirical literature has focused on the impact of financial deepening on economic growth … throughout the world. This paper contributes to the literature by investigating whether this impact differs across regions … estimation results suggest that the beneficial effect of financial deepening on economic growth in fact displays measurable …

different phases of growth. In this dynamic setting, the effect of a corporate tax on profits varies over time. An increase in …

assesses how financial development can boost growth in the CCA. Drawing on IMF’s multidimensional index of financial … LIC peers. Financial institutions have progressed the most, while financial markets remain underdevelped in most CCA … fluctuated over time. Standard growth regressions suggest that CCA countries with relatively lower level of financial development …

We assess econometrically the impact of asset shortages on economic growth, asset bubbles, the probability of a crisis … shortages pose a serious danger to EMs in terms of reducing economic growth, raising the probability of a crisis, and leading to …

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 …

, boosting economic growth and welfare. However, despite these potential benefits, not all countries have well developed capital …

global banks from the region and the weakening of growth prospects. Important initiatives are ongoing to foster financial … that closing the financial integration gap could boost GDP growth be 1/4 -3/4 percentage point in these countries, on …