OECD Economic Studies

Discontinued
Frequency :
Semiannual
ISSN :
1609-7491 (online)
ISSN :
0255-0822 (print)
DOI :
10.1787/16097491
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OECD Economic Studies is the twice-yearly journal of the OECD Economics Department. It features articles in the area of applied macroeconomics and statistical analysis, generally with an international or cross-country dimension. Articles are derived from work of the Organization’s intergovernmental committees, including areas of work outside the Economics Department’s focus. Now published as a part of the OECD Journal.

Also available in: French
Article
 

Regulation of financial systems and economic growth in OECD countries

An empirical analysis You do not have access to this content

 
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Author(s):
Alain de Serres, Shuji Kobayakawa, Torsten Sløk, Laura Vartia
Publication Date
06 Sep 2007
Pages
10
Bibliographic information
No.:
10,
Volume:
2006,
Issue:
2
Pages
77–113
DOI
10.1787/eco_studies-v2006-art10-en

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The operation of the financial system can have a key impact on economic growth and the stability of the economy. It affects long-term economic growth through its effect on the efficiency of intermediation between the savers and final borrowers of funds; through the extent to which it allows for monitoring of the users of external funds, affecting thereby the productivity of capital employed; and through its implications for the volume of saving, which influences the future income-generating capacity of the economy. It affects the stability of the economy because of the high degree of leverage of its activities and its pivotal role in the settlement of all transactions in the economy, so that any failure in one segment risks undermining the stability of the whole system.
Also available in: French