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Financial intermediation and growth: causality and causes
Do better functioning financial intermediaries -financial intermediaries that are better at ameliorating information asymmetrics and facilitating transactions- exert a causal influence on economic growth? Providing evidence on causality has implications for policymakers and economists. For instance, ...
The effects of business cycles on growth
This paper explores the links between business cycles and long-run growth. Although it is clear from a theoretical point of view that both of these phenomena are driven by the same macroeconomic variables, the interaction between economic fluctuations and growth has been largely ignored in the academic ...