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Financial Stability and Economic Growth

In: Crisis, Risk and Stability in Financial Markets

Author

Listed:
  • Santiago Carbó-Valverde
  • Luis Pedauga Sánchez

Abstract

The relationship between the development of a country’s financial sector and its rate of economic growth has been studied in depth. However, few studies have tried to explain how the link between financial development and economic growth works during periods of financial instability. Bauducco, Buliř, and Čihák (2008), Hakkio and Keeton (2009) and Carlson et al. (2009) have recently studied the effects of financial stress on economy performance. They have pointed out that there are three different channels through which financial instability can affect the relationship between finance development and economic growth.

Suggested Citation

  • Santiago Carbó-Valverde & Luis Pedauga Sánchez, 2013. "Financial Stability and Economic Growth," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Juan Fernández Guevara Radoselovics & José Manuel Pastor Monsálvez (ed.), Crisis, Risk and Stability in Financial Markets, chapter 1, pages 8-23, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-00183-2_2
    DOI: 10.1057/9781137001832_2
    as

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