Considerations on the Role of Financial Markets in Economic Growth

Keywords: economic growth , financial market , endogenous growth


  • Carmen Albu, Affiliation: National Institute of Economic Research, Romanian Academy, Bucharest, Romania.
Pages:  37 : 43

Generally accepted in economic literature, the financial market has a positive impact on growth in a modern economy. Nevertheless, due to the global crises starting in 2008, a number of authors are questioning today about this assertion. Among them, there are authors which are attributing as initial impulse to the crisis an exaggerated expansion of financial market (and non-covered on the real side of economy). In this study, based on economic literature and empirical evidences, we are presentig few considerations regarding the development of financial market during last decades and its role on economic growth.

JEL classification:  A11, D53, E44, G15