Finance, growth and shared prosperity: Beyond credit deepening

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F16%3A86099978" target="_blank" >RIV/61989100:27510/16:86099978 - isvavai.cz</a>

Result on the web

<a href="http://www.sciencedirect.com/science/article/pii/S0161893816300552" target="_blank" >http://www.sciencedirect.com/science/article/pii/S0161893816300552</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.jpolmod.2016.06.004" target="_blank" >10.1016/j.jpolmod.2016.06.004</a>

Result language

angličtina

Original language name

Finance, growth and shared prosperity: Beyond credit deepening

Original language description

Does financial development support economic growth including the income growth of people in the bottom part of the income distribution? The seminal work of King and Levine (1993) and subsequent studies by Levine, Loayza, and Beck (2000), Beck, Levine, and Loayza (2000), and others showed that deepening of the financial sector as measured by credit to GDP coincides with greater long-run growth. The positive effect of financial deepening on growth was estimated to work through both greater investment and total factor productivity. Moreover, further studies showed that financial development can help reduce poverty and inequality (Beck, Demirgüc,-Kunt, &amp; Levine, 2007). However, these results have recently been subject to much skepticism.Not least because the 2008 global financial crisis had its epicenter in the United States, but the crisis also quickly spilled over to other countries with the deepest financial systems, and depressed economic growth around the globe. Questions arose about the economic benefits of financial depth and development.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50202 - Applied Economics, Econometrics

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2016

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Journal of Policy Modeling

ISSN

0161-8938

e-ISSN

—

Volume of the periodical

38

Issue of the periodical within the volume

4

Country of publishing house

NL - THE KINGDOM OF THE NETHERLANDS

Number of pages

22

Pages from-to

737-758

UT code for WoS article

000386193800012

EID of the result in the Scopus database

2-s2.0-84992593403