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dc.contributor.authorTrew, Alex William
dc.date.accessioned2014-09-05T11:01:00Z
dc.date.available2014-09-05T11:01:00Z
dc.date.issued2014-06
dc.identifier.citationTrew , A W 2014 , ' Finance and balanced growth ' , Macroeconomic Dynamics , vol. 18 , no. 4 , pp. 883-898 . https://doi.org/10.1017/S1365100512000661en
dc.identifier.issn1365-1005
dc.identifier.otherPURE: 23267065
dc.identifier.otherPURE UUID: fcb24e17-0d23-42f2-8498-6b638d4dd4e5
dc.identifier.otherScopus: 84901017127
dc.identifier.otherWOS: 000338302100007
dc.identifier.urihttp://hdl.handle.net/10023/5354
dc.description.abstractWe study the relationships between various concepts of financial development and balanced economic growth. A model of endogenous growth that incorporates roles for both financial efficiency and access to financial services permits a better understanding of the relationship between the size of the financial sector (value added) and growth. Higher financial value added results from some, but not all, kinds of finance-driven growth. If greater access rather than greater efficiency generates higher growth, then value added and growth can be positively correlated. We present some preliminary empirical results that support the importance of access alongside efficiency in explaining cross-country variations in growth.
dc.format.extent16
dc.language.isoeng
dc.relation.ispartofMacroeconomic Dynamicsen
dc.rightsCopyright © Cambridge University Press 2013en
dc.subjectFinance and Growthen
dc.subjectEndogenous Growthen
dc.subjectUzawa Theoremen
dc.subjectHB Economic Theoryen
dc.subject.lccHBen
dc.titleFinance and balanced growthen
dc.typeJournal articleen
dc.description.versionPublisher PDFen
dc.contributor.institutionUniversity of St Andrews.School of Economics and Financeen
dc.identifier.doihttps://doi.org/10.1017/S1365100512000661
dc.description.statusPeer revieweden


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