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    Review of 'Finance and Growth: Schumpeter Might Be Right'

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    Finance and Growth: Schumpeter Might Be RightCrossref
    The paper provides evidence for the positive impact of financial development on economic growth
    Average rating:
        Rated 3.5 of 5.
    Level of importance:
        Rated 4 of 5.
    Level of validity:
        Rated 3 of 5.
    Level of completeness:
        Rated 4 of 5.
    Level of comprehensibility:
        Rated 3 of 5.
    Competing interests:
    None

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    Finance and Growth: Schumpeter Might Be Right

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      Review information

      10.14293/S2199-1006.1.SOR-UNCAT.ANU6ZA.v1.RZMBVE
      This work has been published open access under Creative Commons Attribution License CC BY 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. Conditions, terms of use and publishing policy can be found at www.scienceopen.com.

      Review text

      The article presents cross-country evidence supporting Schumpeter's theory that a developed financial system can foster economic growth. Using data from 80 countries over a 30-year period, the study finds a strong association between various measures of financial development and real per capita GDP growth, physical capital accumulation, and efficiency improvements. Additionally, the study highlights the importance of the predetermined component of financial development in predicting future rates of economic growth, physical capital accumulation, and economic efficiency improvements. Overall, the study provides compelling evidence for the positive impact of financial development on economic growth, adding to the existing body of research on the subject.

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