Development of the banking sector exerts a large, causal impact on total factor productivity growth, which in turn causes GDP to grow. Whether banking developme

This paper evaluates the empirical relationship between the level of financial intermediary development and (i) economic growth, (ii) total factor productivity

Should our research and policy advice be guided by a modern version of capital fundamentalism, in which capital and investment are viewed as the primary determi

This paper examines how financial development affects the sources of growth—productivity and investment—using a sample of 145 countries for the period 1960-