Download This PaperGrowth and Finance, European Integration and the Lisbon Strategy
36 Pages Posted: 8 May 2006
Abstract
This article considers the relationship between financial and technological integration in Europe. It finds that market-based financial systems support output growth, investment and total factor productivity (TFP) more than bank-based ones. It identifies three groups of countries and estimates the probability of transition between the groups. It finds that financial integration might be a necessary but not sufficient condition for moving towards the 'Lisbon benchmark'.
Suggested Citation: Suggested Citation
Padoan, Pier Carlo and Mariani, Fabio, Growth and Finance, European Integration and the Lisbon Strategy. Journal of Common Market Studies, Vol. 44, No. 1, pp. 77-112, March 2006, Available at SSRN: https://ssrn.com/abstract=885424 or http://dx.doi.org/10.1111/j.1468-5965.2006.00615.x
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