Banks, Financial Markets and Growth in Developed Countries: a Survey of the empirical literature

摘要: We review the literature on finance and growth with a focus developed countries find little evidence that increases in traditional proxies for financial development will enhance these countries. Potential causes include: decreasing returns, misallocation of credit, difficulties measuring efficient development, increasing macroeconomic or systemic risk. To stimulate intermediation, policy makers should lending to firms instead consumers; avoid too high concentration levels; keep government ownership banks at minimum.