Financial Systems and Economic Growth : a Review of the Literature

• Autorzy: Candida Ferreira
• Języki publikacji: EN

Abstrakty

EN

The role of the financial systems and their relevance to economic growth has been studied for at least the past century, yet there is still no general consensus as to the conclusions. Nowadays, well-developed financial systems are usually considered an important and necessary foundation on which to ensure that credit sectors can play their particular role in the processes of economic development. In addition, it is generally accepted that more efficient credit sectors may represent a necessary and important condition for the transmission mechanism of monetary policy and that they should contribute to the economic benefits of the other sectors and agents which use financial services. However, at the same time, and particularly since August 2007, concerns are mounting over the role of the financial institutions in dealing with the phenomena resulting from asymmetric information and the consequences of excessively risky credit supply not only contributing to the possible collapse of some banking and other financial institutions, but also affecting the process of financing the other economic sectors. (AT)

Rola systemów finansowych i ich związku ze wzrostem gospodarczym była badana przynajmniej przez cały poprzedni wiek, jednak wciąż nie ma powszechnej zgody co do ostatecznych wniosków. Obecnie rozbudowane systemy finansowe są zazwyczaj uważane za ważną i niezbędną podstawę, która zapewnia, że sektory kredytowe mogą spełniać swoją szczególną rolę w procesach rozwoju gospodarczego. W dodatku jest powszechnie akceptowanym, że bardziej wydajne sektory kredytowe mogą reprezentować niezbędne i ważne warunki dla mechanizmu przenoszenia polityki monetarnej i powinny przyczyniać się do korzyści ekonomicznych innych sektorów i przedstawicieli, którzy używają usług finansowych. Jakkolwiek w tym samym czasie, a szczególnie od sierpnia 2007, wzrastają wątpliwości co do roli instytucji finansowych w radzeniu sobie ze zjawiskami wynikającymi z asymetrii informacji i w konsekwencji zbyt wysokiego ryzyka kredytowego, które nie tylko przyczyniają się do możliwego upadku banków oraz innych instytucji finansowych, lecz także negatywnie wpływają na proces finansowania innych sektorów gospodarki. (AT)

Słowa kluczowe

EN

Financial system; Economic growth; Financial institutions; Literature review

PL

System finansowy; Wzrost gospodarczy; Instytucje finansowe; Przegląd literatury

• Czasopismo: Prace Naukowe / Akademia Ekonomiczna w Katowicach
• Rocznik: 2008
• Tom: Finance and Real Economy - Selected Research and Policy Issues
• Strony: 11--27

Twórcy

autor

Candida Ferreira

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