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Finanzstruktur und Wirtschaftswachstum - theoretische und empirische Aspekte

Eckhard Hein

No 01-2005, IMK Studies from IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute

Abstract: The bank-based financial systems of Germany and Japan were considered most conducive to growth in the 1980s. After the Japanese stagnation of the 1990s and the most recent slump in Germany, the conviction that the market-based Anglo-American financial systems are a prerequisite for a dynamic economic development has gained ground. However, critics have stressed recently that the strong orientation towards "share-holder value" comes at the expense of long-term growth. This has induced the author to analyse the long-term relationship between the financial system/structure and economic growth in depth. This study provides theoretical and empirical evidence.

Pages: 53 pages
Date: 2005-06
New Economics Papers: this item is included in nep-ban
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Citations: View citations in EconPapers (6)

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