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|Title:||Finance and Growth: What We Know and What We Need To Know|
|Authors:||Demetriades, Panicos O.|
|Publisher:||Dept. of Economics, University of Leicester.|
|Abstract:||The paper reviews recent literature on the relationship between finance and growth, highlighting areas where we need to know more. The paper argues that institutions, such as financial regulation, have a first-order effect on financial development and growth, and that their effectiveness could determine the success or failure of policies like bank privatisation or financial liberalisation. It concludes that a better understanding of the obstacles to financial development, which include institutional, legal and political economy constraints, is needed.|
|Series/Report no.:||Discussion Papers in Economics|
|Appears in Collections:||Reports, Dept. of Economics|
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