Financial Intermediation and Economic Growth

Financial Intermediation, the Environment, and Economic Growth

Development of Financial Intermediation and Economic Growth Chinese Experience

Using Chinese provincial data from 1985 to 1998 and applying recent GMM techniques developed for dynamic panels, this paper examines how the development of financial intermediation influences China’s economic growth during the post-1978 reform period. Our econometric results show that China’s financial intermediation development contributes to its rapid economic growth through two channels: the...

Long-term and Short-term Effects of Financial Intermediation on Economic Growth

Financial intermediation in Iran's banking system is negatively affected at least in two ways. First, there are many similarities between financial intermediation and usurious activities in the common interpretation of interest-free banking law. This encourages the banks to participate in various commercial activities. Second, the price setting policies of the central bank makes investment more...

Essays on Financial Intermediation and Economic Linkages

My dissertation studies the impact of economic linkages among market participants on equilibrium outcomes such as asset prices and returns as well as investors’ welfare. The first essay—titled “Inter-firm Relationships and Asset Prices”—studies the asset pricing properties that stem from the propagation of shocks within a network economy and the extent to which such a propagation mechanism quan...

Inflation, Growth, and Financial Intermediation

T he key role of government policies in the process of development has long been recognized. The recent availability of quality data has led to quantitative analyses of the effect such policies have on development. Most of the renewed research effort on this front, both theoretical and empirical, has emphasized the relationship between fiscal policy and the paths of development of countries. 1 ...