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Finance, growth and crisis — A European perspective

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  • Adalbert Winkler

Abstract

The long-held truism that finance is always good for growth has been called into question by the global financial crisis. This article examines new evidence on the finance-growth nexus from a European perspective. More specifically, it compares the approach of many CESEE countries — i.e. financial deepening and integration via foreign banks — with that of the euro area, namely wholesale financial integration but without any instruments for crisis management. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2014

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  • Adalbert Winkler, 2014. "Finance, growth and crisis — A European perspective," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 49(2), pages 88-94, March.
    • Handle: RePEc:spr:intere:v:49:y:2014:i:2:p:88-94
    DOI: 10.1007/s10272-014-0490-2
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