{"id":"https://openalex.org/W135288946","doi":null,"title":"Banks, Financial Markets and Growth in Developed Countries: a Survey of the empirical literature","display_name":"Banks, Financial Markets and Growth in Developed Countries: a Survey of the empirical literature","publication_year":2014,"publication_date":"2014-02-01","ids":{"openalex":"https://openalex.org/W135288946","mag":"135288946"},"language":"en","primary_location":{"id":"pmh:oai:RePEc:cpb:discus:266","doi":null,"is_oa":false,"landing_page_url":"https://www.cpb.nl/system/files/cpbmedia/publicaties/download/cpb-discussion-paper-266-banks-financial-markets-and-growth-developed-countries.pdf","pdf_url":"https://www.cpb.nl/system/files/cpbmedia/publicaties/download/cpb-discussion-paper-266-banks-financial-markets-and-growth-developed-countries.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},"volume":null,"type":"preprint","indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5023992991","display_name":"Michiel J. Bijlsma","orcid":"https://orcid.org/0000-0002-8501-6137","observed_orcids":["https://orcid.org/0000-0002-8501-6137"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Michiel Bijlsma","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0002-8501-6137","affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5113931162","display_name":"Andrei Dubovik","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Andrei Dubovik","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":11,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.913100004196167,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.913100004196167,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.057100001722574234,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.005499999970197678,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/finance-and-growth","display_name":"finance and growth","score":0.7200000286102295},{"id":"https://openalex.org/keywords/financial-development","display_name":"financial development","score":0.9369999766349792},{"id":"https://openalex.org/keywords/financial-intermediation","display_name":"financial intermediation","score":0.7609999775886536},{"id":"https://openalex.org/keywords/developed-countries","display_name":"developed countries","score":0.6650000214576721},{"id":"https://openalex.org/keywords/credit-misallocation","display_name":"credit misallocation","score":0.847000002861023},{"id":"https://openalex.org/keywords/systemic-risk","display_name":"systemic risk","score":0.7269999980926514},{"id":"https://openalex.org/keywords/bank-concentration","display_name":"bank concentration","score":0.6430000066757202},{"id":"https://openalex.org/keywords/government-ownership-of-banks","display_name":"government ownership of banks","score":0.8709999918937683},{"id":"https://openalex.org/keywords/financial-markets","display_name":"financial markets","score":0.5230000019073486}],"concepts":[{"id":"https://openalex.org/C65146658","wikidata":"https://www.wikidata.org/wiki/Q1416431","display_name":"Financial intermediary","level":2,"score":0.7478188872337341},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5539627075195312},{"id":"https://openalex.org/C2778137410","wikidata":"https://www.wikidata.org/wiki/Q2732820","display_name":"Government (linguistics)","level":2,"score":0.5457174777984619},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.5392696857452393},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.5122570395469666},{"id":"https://openalex.org/C166052673","wikidata":"https://www.wikidata.org/wiki/Q83021","display_name":"Empirical evidence","level":2,"score":0.5108299255371094},{"id":"https://openalex.org/C19244329","wikidata":"https://www.wikidata.org/wiki/Q208697","display_name":"Financial market","level":2,"score":0.49607595801353455},{"id":"https://openalex.org/C2779143981","wikidata":"https://www.wikidata.org/wiki/Q1445414","display_name":"Intermediation","level":2,"score":0.47609007358551025},{"id":"https://openalex.org/C2780082420","wikidata":"https://www.wikidata.org/wiki/Q4672483","display_name":"Access to finance","level":2,"score":0.45076239109039307},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.4317716062068939},{"id":"https://openalex.org/C83864248","wikidata":"https://www.wikidata.org/wiki/Q177323","display_name":"Developing country","level":2,"score":0.41682910919189453},{"id":"https://openalex.org/C196390999","wikidata":"https://www.wikidata.org/wiki/Q11655436","display_name":"Indirect finance","level":3,"score":0.41435515880584717},{"id":"https://openalex.org/C50522688","wikidata":"https://www.wikidata.org/wiki/Q189833","display_name":"Economic growth","level":1,"score":0.10526341199874878},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"pmh:oai:RePEc:cpb:discus:266","doi":null,"is_oa":false,"landing_page_url":"https://www.cpb.nl/system/files/cpbmedia/publicaties/download/cpb-discussion-paper-266-banks-financial-markets-and-growth-developed-countries.pdf","pdf_url":"https://www.cpb.nl/system/files/cpbmedia/publicaties/download/cpb-discussion-paper-266-banks-financial-markets-and-growth-developed-countries.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:RePEc:cpb:discus:266.rdf","doi":null,"is_oa":false,"landing_page_url":"https://www.cpb.nl/sites/default/files/publicaties/download/cpb-discussion-paper-266-banks-financial-markets-and-growth-developed-countries.pdf","pdf_url":"https://www.cpb.nl/sites/default/files/publicaties/download/cpb-discussion-paper-266-banks-financial-markets-and-growth-developed-countries.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"mag:135288946","doi":null,"is_oa":false,"landing_page_url":"https://EconPapers.repec.org/RePEc:cpb:discus:266","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null}],"best_oa_location":null,"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"id":"https://metadata.un.org/sdg/17","score":0.44999998807907104,"display_name":"Partnerships for the goals"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":104,"referenced_works":["https://openalex.org/W48805805","https://openalex.org/W91420935","https://openalex.org/W107943592","https://openalex.org/W108031023","https://openalex.org/W650025864","https://openalex.org/W1492929016","https://openalex.org/W1532981004","https://openalex.org/W1582529705","https://openalex.org/W1714264005","https://openalex.org/W1755645811","https://openalex.org/W1842493565","https://openalex.org/W1913229544","https://openalex.org/W1945199243","https://openalex.org/W1950424839","https://openalex.org/W1980432202","https://openalex.org/W1981517920","https://openalex.org/W1984098175","https://openalex.org/W1993622537","https://openalex.org/W1996505229","https://openalex.org/W1999596259","https://openalex.org/W2005523518","https://openalex.org/W2010242334","https://openalex.org/W2010802592","https://openalex.org/W2014648357","https://openalex.org/W2029792205","https://openalex.org/W2055668929","https://openalex.org/W2055686677","https://openalex.org/W2060569030","https://openalex.org/W2067092736","https://openalex.org/W2067278425","https://openalex.org/W2069714455","https://openalex.org/W2075735660","https://openalex.org/W2076695992","https://openalex.org/W2077358653","https://openalex.org/W2078556006","https://openalex.org/W2079991669","https://openalex.org/W2080709713","https://openalex.org/W2089840247","https://openalex.org/W2095271489","https://openalex.org/W2096732389","https://openalex.org/W2096874528","https://openalex.org/W2098677306","https://openalex.org/W2099010554","https://openalex.org/W2102897370","https://openalex.org/W2103888639","https://openalex.org/W2105705131","https://openalex.org/W2110571580","https://openalex.org/W2110602778","https://openalex.org/W2111385632","https://openalex.org/W2112008714","https://openalex.org/W2115455254","https://openalex.org/W2117000114","https://openalex.org/W2123985991","https://openalex.org/W2124764824","https://openalex.org/W2127756437","https://openalex.org/W2131282092","https://openalex.org/W2132218668","https://openalex.org/W2133207356","https://openalex.org/W2138350337","https://openalex.org/W2139828631","https://openalex.org/W2146100676","https://openalex.org/W2146142289","https://openalex.org/W2152354582","https://openalex.org/W2156471341","https://openalex.org/W2156856308","https://openalex.org/W2163035179","https://openalex.org/W2169760147","https://openalex.org/W2187332388","https://openalex.org/W2200491353","https://openalex.org/W2227303269","https://openalex.org/W2252111059","https://openalex.org/W3121140678","https://openalex.org/W3121164101","https://openalex.org/W3121194611","https://openalex.org/W3121311875","https://openalex.org/W3121331558","https://openalex.org/W3121476497","https://openalex.org/W3122221630","https://openalex.org/W3122398539","https://openalex.org/W3122438891","https://openalex.org/W3122509291","https://openalex.org/W3122540099","https://openalex.org/W3122643932","https://openalex.org/W3122685622","https://openalex.org/W3122790390","https://openalex.org/W3122812532","https://openalex.org/W3123092007","https://openalex.org/W3123312772","https://openalex.org/W3123352109","https://openalex.org/W3123416450","https://openalex.org/W3123806267","https://openalex.org/W3123949007","https://openalex.org/W3124003625","https://openalex.org/W3124032018","https://openalex.org/W3124060241","https://openalex.org/W3124186422","https://openalex.org/W3124223798","https://openalex.org/W3124443627","https://openalex.org/W3124575537","https://openalex.org/W3124682694","https://openalex.org/W3124705764","https://openalex.org/W3124920595","https://openalex.org/W3125147766","https://openalex.org/W4285719527"],"related_works":["https://openalex.org/W3121448504","https://openalex.org/W7037998071","https://openalex.org/W1549902569","https://openalex.org/W2166114681","https://openalex.org/W2981751361","https://openalex.org/W7056800981","https://openalex.org/W1516262654","https://openalex.org/W161621809","https://openalex.org/W2167660964","https://openalex.org/W2113844427"],"abstract_inverted_index":{"We":[0,14],"review":[1],"the":[2,21],"literature":[3],"on":[4,11,62],"finance":[5],"and":[6,47,74],"growth":[7,29],"with":[8],"a":[9,81],"focus":[10,61],"developed":[12],"countries":[13],"find":[15],"little":[16],"evidence":[17],"that":[18],"increases":[19],"in":[20,30,42],"traditional":[22],"proxies":[23],"for":[24],"financial":[25,45,56],"development":[26],"will":[27],"enhance":[28],"these":[31],"countries.":[32],"Potential":[33],"causes":[34],"include:":[35],"decreasing":[36],"returns,":[37],"misallocation":[38],"of":[39,67,78],"credit,":[40],"difficulties":[41],"measuring":[43],"efficient":[44,55],"development,":[46],"increasing":[48],"macroeconomic":[49],"or":[50],"systemic":[51],"risk.":[52],"To":[53],"stimulate":[54],"intermediation,":[57],"policy":[58],"makers":[59],"should":[60],"lending":[63],"to":[64],"firms":[65],"instead":[66],"consumers;":[68],"avoid":[69],"too":[70],"high":[71],"concentration":[72],"levels;":[73],"keep":[75],"government":[76],"ownership":[77],"banks":[79],"at":[80],"minimum.":[82]},"counts_by_year":[{"year":2021,"cited_by_count":2},{"year":2018,"cited_by_count":2},{"year":2016,"cited_by_count":4},{"year":2015,"cited_by_count":1},{"year":2013,"cited_by_count":2}],"updated_date":"2026-10-17T09:40:24.721904","created_date":"2016-06-24T00:00:00"}