Financial development and Post Keynesian economic growth: advancing theoretical and empirical grounds

Chaiechi, Taha (2008) Financial development and Post Keynesian economic growth: advancing theoretical and empirical grounds. In: Proceedings of the 10th Annual Conference of the Association for Heterodox Economics, pp. 1-33. From: 10th Annual Conference of the Association for Heterodox Economics, 4-6 July 2008, Cambridge, UK.

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Abstract

Over the last couple of decades, a great deal of attention has been paid to the role of financial markets in economic growth. In recent studies the importance of financial markets has been highlighted and financial systems have been recognised via their increasing influence over real sector development. However, most of these studies fail to adequately integrate this relationship into a general macro economic model. "Since the writings of John Stuart Mill, many economists have argued either that finance is unimportant or that it matters most when it gets out of order" Caprio (1998). Generations of economists constructed models without money or a financial sector. However, with the explosion of banking crises around the globe in the last two decades, finance is back in fashion.

Item ID: 23135
Item Type: Conference Item (Non-Refereed Research Paper)
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Date Deposited: 13 Sep 2012 01:44
FoR Codes: 14 ECONOMICS > 1401 Economic Theory > 140102 Macroeconomic Theory @ 30%
14 ECONOMICS > 1402 Applied Economics > 140202 Economic Development and Growth @ 30%
14 ECONOMICS > 1403 Econometrics > 140305 Time-Series Analysis @ 40%
SEO Codes: 91 ECONOMIC FRAMEWORK > 9101 Macroeconomics > 910103 Economic Growth @ 50%
91 ECONOMIC FRAMEWORK > 9199 Other Economic Framework > 919999 Economic Framework not elsewhere classified @ 50%
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