Authors: Robert Inklaar, Juan Fernández de Guevara and Joaquín MaudosTitle: The Impact of the Financial Crisis on Financial Integration, Growth and Investment
Source: National Institute Economic Review
Abstract: 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.
Recommended citation:
Inklaar, R., J. Fernández de Guevara and J. Maudos, 2012. "The impact of the financial crisis on financial integration, growth and investment", National Institute Economic Review, 220(1), April
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