Growth and Finance, European Integration and the Lisbon Strategy*
Pier Carlo Padoan and
Fabio Mariani ()
Journal of Common Market Studies, 2006, vol. 44, issue 1, 77-112
This article considers the relationship between financial and technological integration in Europe. It finds that market‐based financial systems support output growth, investment and total factor productivity (TFP) more than bank‐based ones. It identifies three groups of countries and estimates the probability of transition between the groups. It finds that financial integration might be a necessary but not sufficient condition for moving towards the ‘Lisbon benchmark’.
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Working Paper: Growth and finance, European integration, and the Lisbon strategy (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:bla:jcmkts:v:44:y:2006:i:1:p:77-112
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