Finance and Growth: A Critical Survey

• ALEX TREW ^[1]
  1. [1] University of St Andrews

     University of St Andrews

     Reino Unido

     
• Localización: Economic record, ISSN 0013-0249, Vol. 82, Nº. 259, 2006, págs. 481-490
• Idioma: inglés
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• Resumen

  • We present a survey of the finance-growth nexus that raises a number of qualifications to the standard interpretation. We investigate doubts regarding empirical consensus and we consider the prevalence of cross-section econometrics as dominant in shaping the present theoretical consensus. The core implications of many finance and growth theories are shown to be disconnected not only from their modern empirical counterparts, but also from the historical literature.