Financial Innovation Spiral

Ante Dodig
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Ante Dodig: International Finance Corporation

Chapter Chapter 2 in Capital Markets in Southeast Europe, 2022, pp 15-70 from Springer

Abstract: Abstract The relationship between financial markets and aggregate economic performance has long caught attention of academics, investors, and policy-makers, amongst others. The initial empirical statistical studies focused primarily on the banking sector’s sole contribution through financial market to the aggregate economic performance. Economists’ views and results of diverse empirical research differ on the relationship between financial system and aggregate economic output growth, though overall a positive relationship sentiment prevails. In addition, it is advocated that both capital markets and banking industry individually spur the aggregate economic output growth. Results of the empirical research in developing markets are even more diverse and inconclusive and thus call for more frequent studies.

Date: 2022
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DOI: 10.1007/978-3-031-07210-9_2

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