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Growth and Finance, European Integration and the Lisbon Strategy

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  • PIER CARLO PADOAN
  • FABIO MARIANI

Abstract

This article considers the relationship between financial and technological integration in Europe. It finds that market‐based financial systems support output growth, investment and total factor productivity (TFP) more than bank‐based ones. It identifies three groups of countries and estimates the probability of transition between the groups. It finds that financial integration might be a necessary but not sufficient condition for moving towards the ‘Lisbon benchmark’.

Suggested Citation

  • Pier Carlo Padoan & Fabio Mariani, 2006. "Growth and Finance, European Integration and the Lisbon Strategy," Journal of Common Market Studies, Wiley Blackwell, vol. 44(1), pages 77-112, March.
    • Handle: RePEc:bla:jcmkts:v:44:y:2006:i:1:p:77-112
    DOI: 10.1111/j.1468-5965.2006.00615.x
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    Cited by:

    1. Bruno Caprettini, 2008. "Finance and the Diffusion of Digital Technologies," Rivista di Politica Economica, SIPI Spa, vol. 98(6), pages 79-122, November-.
    2. Shigeki Ono & Ichiro Iwasaki, 2022. "The Finance-Growth Nexus in Europe: A Comparative Meta-Analysis of Emerging Markets and Advanced Economies," Eastern European Economics, Taylor & Francis Journals, vol. 60(1), pages 1-49, January.
    3. Anwar, Amar & Iwasaki, Ichiro, 2022. "The Finance–Growth Nexus inAsia : A Meta-Analytic Approach," CEI Working Paper Series 2022-03, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    4. IWASAKI, Ichiro & ONO, Shigeki, 2023. "Economic Development and the Finance-Growth Nexus : A Meta-Analytic Approach," CEI Working Paper Series 2023-06, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.

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