Financial Development and Real Economic Growth

Author: Yang Lin
Publisher:
Publish Date: 2002-04-01
Features: Finance is the core of modern market economy. The history of economic development in various countries shows that financial repression hinders economic development, while excessive financial development can lead to bubble economies or financial crises, which can also damage economic growth. How to prevent financial repression while avoiding excessive financial development, maintain moderate development and efficient operation of the financial industry from a macro perspective, and fully leverage the role of the financial industry in optimizing resource allocation and promoting the growth of the real economy, has become a widely discussed issue among governments worldwide. The book includes the following content: the relationship between finance and the aggregate economy of the real sector, changes in financial structure and the upgrading of the real economy structure, the transmission mechanism of financial development to the real economy, and financial development and bubble economies.