文章基本信息

标题：AN ESSAY ON THE INTERDEPENDENCE BETWEEN ECONOMIC GROWTH AND THE FINANCIAL SECTOR
其他标题：AN ESSAY ON THE INTERDEPENDENCE BETWEEN ECONOMIC GROWTH AND THE FINANCIAL SECTOR
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作者：Paulo Renato Soares Terra
期刊名称：RDE: Revista de Desenvolvimento Econômico
印刷版ISSN：1516-1684
电子版ISSN：2178-8022
出版年度：2006
卷号：8
期号：13
页码：93-100
DOI：10.21452/rde.v8i13.80
出版社：Universidade Salvador (UNIFACS)
摘要：This essay surveys the theoretical and empirical literature on the interdependence between economic growth and the financial sector. It is shown that typical financial sector functions such as price discovery, risk sharing, and liquidity transformation have a non-trivial effect on the growth of the real sector of the economy. Gains come mainly from reduced transactions costs as well as better allocation of resources. International empirical evidence largely supports the proposition that more financially sophisticated countries grow at faster rates than financially repressed ones. Nevertheless, several questions regarding the effect of financial development on economic growth remain unanswered, and several suggestions for future research are given in the final section of the paper.
关键词：economic growth;financial sector;financial development;interdependence.