Intermediaries, Financial Markets and Growth: Some More International Evidence | Zendy

António Afonso | Zendy; Raquel Ferreira | Zendy; Edmund Freitas | Zendy; Celso Nobrega | Zendy; José M. Pinheiro | Zendy

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Intermediaries, Financial Markets and Growth: Some More International Evidence

Author(s) -

António Afonso,

Raquel Ferreira,

Edmund Freitas,

Celso Nobrega,

José M. Pinheiro

Publication year - 2003

Publication title -

ssrn electronic journal

Language(s) - English

Resource type - Journals

ISSN - 1556-5068

DOI - 10.2139/ssrn.392606

Subject(s) - financial intermediary , intermediary , business , financial system , finance , financial market

We examine how financial institutions affect growth, taking into the account the organisational features of the financial system namely systems characterised by strong financial intermediaries and systems where the financial markets assume a more important role. We use a panel of 24 developed and developing countries over the 70s, 80s and 90s, to evaluate the existence of possible links between the type of preponderant financial system (bank-based or more capital markets based) and economic growth. JEL: C23; G20; O40

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