TY  - RPRT
        AU  - Caporale, Guglielmo Maria
AU  - Rault, Christophe
AU  - Sova, Robert
AU  - Sova, Anamaria
        TI  - Financial Development and Economic Growth: Evidence from Ten New EU Members
        PY  - 2014/Aug/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 8397
        UR  - https://www.iza.org/index.php/publications/dp8397
        AB  - This paper reviews the main features of the banking and financial sector in ten new EU members, and then examines the relationship between financial development and economic growth in these countries by estimating a dynamic panel model over the period 1994-2007. The evidence suggests that the stock and credit markets are still underdeveloped in these economies, and that their contribution to economic growth is limited owing to a lack of financial depth. By contrast, a more efficient banking sector is found to have accelerated growth.
        KW  - financial development
KW  - economic growth
KW  - transition economies
        ER  -