Abstract
Finance matters. The level of a country's financial development helps predict its rate of economic growth for the following 10 to 30 years. The data are consistent with Schumpeter's view that the services provided by financial intermediariestimulate longrun growth. Policy Resecnh WorkingPapers disseminat thte findings of work in pogrmsa nd enauogcthecxchaegofidas amngBank aaffand al othe intaesd in devlopnent isses.7hesepaper. disbutedbytheResearchAdvisoy Staff.caythenamesofthe autOaos,rlect orlytbeirviewdaotdshoedWreused and citedarofingly.T findins,itaepgettie ons. ndooncysionsammthbercautr t'own.ieyshould not be antnbuted to the Wosid Bank, its Board of Din ccurs, its managanaa, or anty of its member countries. Polley Research
Keywords
EconomicsPhysical capitalPer capitaCapital (architecture)Capital accumulationCapital formationMonetary economicsMacroeconomicsFinancial capitalHuman capitalMarket economy
Affiliated Institutions
Related Publications
Indices of Climate Change for the United States
A framework is presented to quantify observed changes in climate within the contiguous United States through the development and analysis of two indices of climate change, a Cli...
Publication Info
- Year
- 1993
- Type
- article
- Volume
- 108
- Issue
- 3
- Pages
- 717-737
- Citations
- 8408
- Access
- Closed
External Links
Social Impact
Altmetric
PlumX Metrics
Social media, news, blog, policy document mentions
Citation Metrics
8408
OpenAlex
Cite This
Robert G. King,
Ross Levine
(1993).
Finance and Growth: Schumpeter Might Be Right.
The Quarterly Journal of Economics
, 108
(3)
, 717-737.
https://doi.org/10.2307/2118406
Identifiers
- DOI
- 10.2307/2118406