Finance,growth, and stability: Lessons from the crisis |
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| Institution: | 1. European Commission, Belgium;2. European Central Bank, Germany;1. University of Tunis, High Institute of Management, Tunis, Tunisia;2. College of Business Administration, AlBaha University, Saudi Arabia;3. Univ. Manouba, ESCT, RIM RAF, UR13ES56, Tunisia;4. University of Jeddah, College of Business, Department of Accounting, Jeddah, Saudi Arabia;5. University of Tunis, ISG, GEF-2A Lab, Tunis, Tunisia;6. University of Manouba, ESC, Manouba, Tunisia;1. Research Department, International Monetary Fund, 700 19th Street NW, Washington DC 20431, USA;2. Division of International Finance, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue, Washington DC 20551, USA;3. Directorate General Research, European Central Bank, Sonnemannstrasse 20, D-60314 Frankfurt am Main, Germany;1. Faculty of Economics and Business, University of Groningen, 9747 AE Groningen, The Netherlands;2. CPB Netherlands Bureau for Economic Policy Analysis, Bezuidenhoutseweg 30, 2594 AV Den Haag, The Netherlands;1. Deutsche Bundesbank, Germany;2. European Central Bank, Germany;1. Middle East Technical University, Department of Economics, Ankara, Turkey;2. Sinop University, Department of Economics, Sinop, Turkey |
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| Abstract: | This article introduces a special issue on lessons from the recent crisis on finance, growth, and stability. The papers in the special issue discuss (i) the benefits and risks of financial innovation and regulatory responses to these risks, (ii) the effect of finance and globalization on the real economy, and (iii) the role of government in providing credit guarantees. This introductory article provides a broader view on these issues and closes with ideas on the future research agenda in this field. |
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| Keywords: | Financial development Financial innovation Globalization Government policies |
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