Contributions of Financial Systems to Growth in OECD Countries:
The recent period of sustained high growth in the United States has drawn attention to its financial system and the efficiency with which it seems to be able to channel funds to new productive investment projects, particularly in hi-tech industries. This study examines the role played by the financi...
Saved in:
| Main Author: | |
|---|---|
| Other Authors: | , , |
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Paris
OECD Publishing
2001
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| Series: | OECD Economics Department Working Papers
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| Subjects: | |
| Online Access: | Volltext |
| Summary: | The recent period of sustained high growth in the United States has drawn attention to its financial system and the efficiency with which it seems to be able to channel funds to new productive investment projects, particularly in hi-tech industries. This study examines the role played by the financial systems in OECD countries and how they affect resource allocation and growth. It provides evidence suggesting that legal and regulatory framework conditions for financial systems, and particularly their enforcement and transparency, support innovation and investment in new enterprises. In addition, using dynamic panel regression techniques, the study finds significant relationships between investment and financial development, as measured by indicators of the scale of financial activity. Evidence is also found of significant relationships between financial development and growth - over and above the links via investment - indicating impacts via overall economic efficiency ... |
| Physical Description: | 1 Online-Ressource (57 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/888167575648 |
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| spelling | Leahy, Michael Verfasser aut Contributions of Financial Systems to Growth in OECD Countries Michael Leahy ... [et al] Paris OECD Publishing 2001 1 Online-Ressource (57 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers The recent period of sustained high growth in the United States has drawn attention to its financial system and the efficiency with which it seems to be able to channel funds to new productive investment projects, particularly in hi-tech industries. This study examines the role played by the financial systems in OECD countries and how they affect resource allocation and growth. It provides evidence suggesting that legal and regulatory framework conditions for financial systems, and particularly their enforcement and transparency, support innovation and investment in new enterprises. In addition, using dynamic panel regression techniques, the study finds significant relationships between investment and financial development, as measured by indicators of the scale of financial activity. Evidence is also found of significant relationships between financial development and growth - over and above the links via investment - indicating impacts via overall economic efficiency ... Economics Schich, Sebastian ctb Wehinger, Gert ctb Pelgrin, Florian ctb https://doi.org/10.1787/888167575648 Verlag kostenfrei Volltext |
| spellingShingle | Leahy, Michael Contributions of Financial Systems to Growth in OECD Countries Economics |
| title | Contributions of Financial Systems to Growth in OECD Countries |
| title_auth | Contributions of Financial Systems to Growth in OECD Countries |
| title_exact_search | Contributions of Financial Systems to Growth in OECD Countries |
| title_exact_search_txtP | Contributions of Financial Systems to Growth in OECD Countries |
| title_full | Contributions of Financial Systems to Growth in OECD Countries Michael Leahy ... [et al] |
| title_fullStr | Contributions of Financial Systems to Growth in OECD Countries Michael Leahy ... [et al] |
| title_full_unstemmed | Contributions of Financial Systems to Growth in OECD Countries Michael Leahy ... [et al] |
| title_short | Contributions of Financial Systems to Growth in OECD Countries |
| title_sort | contributions of financial systems to growth in oecd countries |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/888167575648 |
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