Financial Sector Development and Productivity Growth

Subal Kumbhakar and George Mavrotas

No RP2005-68, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: Recent years have witnessed important structural changes around the world as a result of the globalization process, the creation of new economic blocks and the liberalization of financial sector in many countries. Responding to these changes many sectors of the industrialized countries have gone through major deregulatory changes to acclimate themselves to new environments. At the same time, many countries have undertaken institutional reforms to build a market-orientated financial system in the hope that transition towards market economy will improve productivity.

Keywords: Econometric models (Economic development); Financial institutions; Finance infrastructure; Productivity (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (19)

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