Financial intermediary development and growth volatility: Do intermediaries dampen or magnify shocks?
نویسندگان
چکیده
منابع مشابه
Financial Development, Shocks, and Growth Volatility
In this paper, we argue that study of the effect of financial development and shocks on aggregate growth volatility will not be informative because they affect growth volatility through its different components. Financial development affects only the business cycle component of volatility and therefore, the effect on total volatility is dependent on its share in total volatility. On the contrar...
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ژورنال
عنوان ژورنال: Journal of International Money and Finance
سال: 2006
ISSN: 0261-5606
DOI: 10.1016/j.jimonfin.2006.08.004