scholarly journals The BRICS’s Economic Growth Performance before and after the International Financial Crisis

2016 ◽  
Vol 45 (4) ◽  
pp. 294-314
Author(s):  
André Nassif ◽  
Carmem Feijo ◽  
Eliane Araújo
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Growth Performance ◽  
International Financial Crisis ◽  
Before And After

Privatisation, Myopia and the Long-Run Provision of Economic Infrastructure in Australia

2008 ◽  
Vol 19 (1) ◽  
pp. 57-72 ◽  
Author(s):  
Michael Johnson
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Short Term ◽  
Public Economic ◽  
International Financial Crisis ◽  
Long Run ◽  
Infrastructure Provision ◽  
Economic Infrastructure ◽  
The Impact

The privatisation of economic infrastructure in Australia that began in the 1980s has continued to be actively pursued by state and federal governments. Evaluations of the effects of the change of policy, ownership, control and regulatory arrangements that have accompanied privatisation and their impact on the longer-term stock of infrastructure and the growth of the economy have received less attention than the immediate privatisation decisions. This article reviews some of the studies that have been carried out to evaluate the impact of privatisation, focusing on long-term impacts on infrastructure provision. In particular, it discusses the myopia created by the emphasis on commercial transactions and managing markets that continues to shape the debate about the provision of infrastructure to meet Australia's economic, environmental and other objectives. Objectives have become even more difficult to achieve as an increasingly extensive and complex regulatory framework is required to manage privatised activities. This adds to costs and limits the potential for the introduction of new initiatives to address pressing problems. The issue is increasingly relevant, given the current perceived shortage of infrastructure and the flow-on effects of the current international financial crisis on Australia. The slow-down in economic growth accompanying the financial crisis is putting pressure on government budgets and threatening to perpetuate the existing policy bias towards short-term solutions, exacerbating the longer run problem of ensuring an adequate supply of public economic infrastructure.

Types of banking institutions and economic growth

2020 ◽  
Vol 13 (4) ◽  
pp. 553-578
Author(s):  
Khaled Elmawazini ◽  
Khiyar Abdullah Khiyar ◽  
Asiye Aydilek
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Banking Sector ◽  
Empirical Literature ◽  
Content Type ◽  
Gcc Countries ◽  
Before And After ◽  
Endogenous Growth Model ◽  
Conventional Banks ◽  
The Impact

Purpose This paper aims to compare the effects of Islamic and commercial banks on economic growth among the Gulf Cooperation Council (GCC) countries during 2001–2009 (before and during the financial crisis) and 2010–2017 (after the financial crisis). Design/methodology/approach The authors use a cross-sectionally correlated and timewise autoregressive (CCTA) model. The authors also extend the theoretical endogenous growth model developed by Pagano (1993) by introducing the developments in Islamic and commercial financial markets. Findings The authors find that Islamic banks fueled economic growth more than conventional banks before and after the financial crisis. The authors conclude that finance is a major determinant of economic growth, but finance does not follow economic growth. The results show that the ethical principles of Islamic finance can positively affect economic growth. Originality/value The authors contribute to the empirical literature first by examining feedback causality and cointegration between the banking sector and economic growth by examining the impact of the interaction between the banking sector and rule of law on economic growth in the GCC countries instead of a single country, second by providing both of the theoretical and empirical analysis and third by distinguishing between Islamic and conventional banks.

scholarly journals Finance and growth—shortly reconsidered

2018 ◽  
Vol 87 (4) ◽  
pp. 119-126
Author(s):  
Mechthild Schrooten
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Economic System ◽  
Financial Development ◽  
Financial Risk ◽  
International Crisis ◽  
Credit Booms ◽  
International Financial Crisis ◽  
Economic Paradigm ◽  
Finance Growth Nexus

Zusammenfassung: In den 1980ern und 90ern entwickelte sich ein neues ökonomisches Paradigma: Finanzmärkte – so wurde angenommen – haben einen erheblichen Einfluss auf das Wirtschaftswachstum und die Produktivitätsentwicklung (Levine, Loayza und Beck 2000). Paradigmen kommen in der Regel auf Annahmen zurück. Solche Annahmen bieten eine gute Voraussetzung für Zirkelschlüsse. Mit der internationalen Finanzkrise 2007 wurde klar, dass der Finanzsektor nicht nur einen Einfluss auf das Wirtschaftswachstum hat, sondern im schlimmsten Fall das gesamte System gefährden kann. Während es eine umfangreiche Literatur zum Zusammenhang zwischen Finanzsystem und Wachstum vor der internationalen Finanzkrise gibt, ist dieser Untersuchungszweig nach der Krise verkümmert. In diesem Paper steht die Nachkrisenzeit im Mittelpunkt. Dabei wird klar, dass sich der vormals vorhandene Zusammenhang inzwischen kaum noch finden lässt. Dies mag auch darauf zurückgehen, dass es inzwischen ein besseres Wissen um den Zusammenhang zwischen Größe des Finanzsystems und Risiken gibt. Summary: In the 1980s and 90s of the last century, one economic paradigm gained power: financial development was considered as a major determinant of economic growth and productivity (Levine, Loayza and Beck 2000). Typically, paradigms are based on assumptions. Reality made a reconsideration of the former results necessary. With the international crisis 2007 it became clear that financial development and credit booms might not only support growth but jeopardize the whole economic system. While there exists a huge literature on the finance growth nexus before the international financial crisis analyses on post-crisis developments are rare. In this empirical paper, we focus on these post-crisis developments and find that the finance-growth nexus has widely disappeared after crisis. This might go back to a deeper understanding of systemic and financial risk.

Sign in / Sign up

Export Citation Format

Share Document