Essays on finance and growth

  • Zhu, D. (Researcher)
  • van Gemert, H.G. (Tutor)
  • van Schaik, Ton (Tutor)

    Project: Research project

    Project Details


    There are continually increasing numbers of discoveries in the literature on the conductive roles played by financial development on economic growth. Yet, how to dig in-depth on the real effect of finance on the macroeconomic variables, such as growth, in a systematic and coherent macroeconomic framework is still an open question. Importantly, the question is quite relevant to developing countries which are in the stages of co-processing of financial development and growth.
    The first part of the research studies the complex relationship between inequality, financial market imperfections and segmentation, and growth. The co-existence of formal and informal financial markets possessing different technologies to overcome the moral hazards problem has endogenously emerged to meet the different financial demands by the poor and the rich. In this framework, the informal financial market is potentially growth enhancing.
    Short titleEssays on finance and growth
    Effective start/end date1/09/991/09/03


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