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Wiley InterScience | |||
![]() Economic RecordVolume 82 Issue 259, Pages 481 - 490 Published Online: 13 Oct 2006 Journal compilation © 2009 Economic Society of Australia Published on behalf of the Economic Society of Australia
Abstract | References | Full Text: HTML, PDF (Size: 103K) | Related Articles | Citation Tracking Finance and Growth: A Critical Survey* * I received generous funding from the Centre for Dynamic Macroeconomic Analysis at St Andrews. Helpful comments were received from anonymous referees. Many thanks are also due to Charles Nolan and Gary Shea for discussions and advice. All remaining errors are my own. Copyright © 2006 The Economic Society of Australia KEYWORDS O11 • O16 • O40 • N23 ABSTRACTWe present a survey of the finance-growth nexus that raises a number of qualifications to the standard interpretation. We investigate doubts regarding empirical consensus and we consider the prevalence of cross-section econometrics as dominant in shaping the present theoretical consensus. The core implications of many finance and growth theories are shown to be disconnected not only from their modern empirical counterparts, but also from the historical literature. |