Finance and balanced growth

Alex William Trew

    Research output: Contribution to journal › Article › peer-review

    Abstract

    We study the relationships between various concepts of financial development and balanced economic growth. A model of endogenous growth that incorporates roles for both financial efficiency and access to financial services permits a better understanding of the relationship between the size of the financial sector (value added) and growth. Higher financial value added results from some, but not all, kinds of finance-driven growth. If greater access rather than greater efficiency generates higher growth, then value added and growth can be positively correlated. We present some preliminary empirical results that support the importance of access alongside efficiency in explaining cross-country variations in growth.
    Original languageEnglish
    Pages (from-to)883-898
    Number of pages16
    JournalMacroeconomic Dynamics
    Volume18
    Issue number4
    Early online date28 Mar 2013
    DOIs
    Publication statusPublished - Jun 2014

    Keywords

    • Finance and Growth
    • Endogenous Growth
    • Uzawa Theorem

    UN SDGs

    This output contributes to the following UN Sustainable Development Goals (SDGs)

    • SDG 8 - Decent Work and Economic Growth

    Access to Document

      Fingerprint

      Dive into the research topics of 'Finance and balanced growth'. Together they form a unique fingerprint.
      View full fingerprint
      • 1 Working paper

      • Finance and Balanced Growth

        Trew, A. W., Jul 2010, (Centre for Dynamic Macroeconomic Analysis, Working Paper; no. 1012).

        Research output: Working paper

      Cite this