6533b7dbfe1ef96bd126ff7e
RESEARCH PRODUCT
The impact of the financial crisis on financial integration, growth and investment
Robert InklaarJoaquín MaudosJuan Fernández De Guevarasubject
Financial risk05 social sciencesGeography of financeFinancial intermediaryFinancial integrationFinancial systemFinancial regulationIndirect finance0502 economics and businessFinancial crisisFinancial analysisEconomics050207 economicsGeneral Economics Econometrics and Finance050205 econometricsdescription
Financial crises, and in particular those of the past few years, have severe consequences for the affected economies. In this paper we analyse the impact of financial development and European financial integration on growth and we find no reversal of the growth benefits of financial development and integration in recent years. This highlights the economic cost of regulatory changes that would reverse European financial integration. We also find that, following a financial crisis, investment declines more in countries with a greater degree of uncertainty aversion, which can be informative for evaluating post-crisis economic performance.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2012-04-01 | National Institute Economic Review |