An endogenous growth model on finance and growth is formulated, and empirical analyses are conducted. The model exhibits structural shifts and breaks caused by institutional changes, suggesting that a linear approach is inadequate. To address this point empirically, we fit data for 90 countries...

The basic question of this book is what we can learn from empirical as well as theoretical analysis of financial systems, differing cross-sectional and changing structually over time, with respect to the issue of stability of financial systems. Part I of the book deals with stability issues in a...

An endogenous growth model with a financial sector is formulated, and empirical analyses are conducted. The model exhibits structural shifts and breaks caused by institutional change, suggesting that a linear approach is inadequate. To address this point empirically, we fit data for 90 countries...