Financial development, economic growth and corporate governance : paper presented at the First Annual Seminar on New Development Finance held at the Goethe University of Frankfurt, September 22 - October 3, 1997

During the last years the relationship between financial development and economic growth has received widespread attention in the literature on growth and development. This paper summarises in its first part the results 
During the last years the relationship between financial development and economic growth has received widespread attention in the literature on growth and development. This paper summarises in its first part the results of this research, stressing the growth-enhancing effects of an increased interpersonal re-allocation of resources promoted by financial development. The second part of the paper seeks to identify the determinants of financial development based on Diamond's theory of financial intermediation as delegated monitoring. The analysis shows that the quality of corporate governance of banks is the key factor in financial system development. Accordingly, financial sector reforms in developing countries will only succeed if they strengthen the corporate governance of financial institutions. In this area, financial institution building has an important contribution to make. Paper presented at the First Annual Seminar on New Development Finance held at the Goethe University of Frankfurt, September 22 - October 3, 1997
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Metadaten
Author:Adalbert Winkler
URN:urn:nbn:de:hebis:30-18582
Parent Title (English):Universität Frankfurt am Main. Fachbereich Wirtschaftswissenschaften: [Working paper series / Finance and accounting] Working paper series, Finance & Accounting ; No. 12
Series (Serial Number):Working paper series / Johann-Wolfgang-Goethe-Universität Frankfurt am Main, Fachbereich Wirtschaftswissenschaften : Finance & Accounting (12)
Publisher:Univ., Fachbereich Wirtschaftswiss.
Place of publication:Frankfurt am Main
Document Type:Working Paper
Language:English
Year of Completion:1998
Year of first Publication:1998
Publishing Institution:Universitätsbibliothek Johann Christian Senckenberg
Release Date:2005/10/11
Tag:Asymmetric Information; Corporate Governance; Economic Growth; Financial Development; Financial Intermediation
SWD-Keyword:Bankpolitik; Corporate Governance; Endogenes Wirtschaftswachstum; Entwicklung; Finanzintermediation; Finanzintermediäre; Kreditwesen; LEN-Modell; Wachstumstheorie
Pagenumber:54
HeBIS PPN:188886613
Institutes:Wirtschaftswissenschaften
Dewey Decimal Classification:330 Wirtschaft
JEL-Classification:D82 Asymmetric and Private Information
G21 Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
G38 Government Policy and Regulation
O16 Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
O40 General
Sammlungen:Universitätspublikationen
Licence (German):License Logo Veröffentlichungsvertrag für Publikationen

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