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Finance and Growth [electronic resource]: Some Theoretical Considerations and a Review of the Empirical Literature / Kotaro Tsuru

By: Material type: ArticleArticleSeries: OECD Economics Department Working Papers ; no.228.Publication details: Paris : OECD Publishing, 2000.Description: 53 p. ; 21 x 29.7cmSubject(s): Other classification:
  • G30
  • G10
  • G21
  • G24
  • E22
  • E44
Online resources: Abstract: This paper aims at providing an overview of the theoretical considerations and a review of the empirical literature on the relationship between finance and growth. Section I describes the role of financial development in economic growth at the macro level, both theoretically and empirically. Section II examines the role of corporate finance in firm-level performance, especially focusing on the role of "internal funds" and "internal capital markets". Section III presents a comparative analysis of financial systems, and analyses both the Asian crisis and the US venture capital phenomenon from this perspective. Section IV presents some policy implications and conclusions ...
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This paper aims at providing an overview of the theoretical considerations and a review of the empirical literature on the relationship between finance and growth. Section I describes the role of financial development in economic growth at the macro level, both theoretically and empirically. Section II examines the role of corporate finance in firm-level performance, especially focusing on the role of "internal funds" and "internal capital markets". Section III presents a comparative analysis of financial systems, and analyses both the Asian crisis and the US venture capital phenomenon from this perspective. Section IV presents some policy implications and conclusions ...

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