Impact of capital markets reforms in Colombia´s economic development
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Abstract
"In empirical economic literature it is widely recognized that a well-developed financial system, or in other words a well-functioning banking system and capital market, has a positive effect on a country s economic growth. However, there is a large discussion on the channels through which this impact occurs. Several studies suggest that financial development promotes growth through two main channels: capital accumulation and gains in productivity."
Abstract
"In empirical economic literature it is widely recognized that a well-developed financial system, or in other words a well-functioning banking system and capital market, has a positive effect on a country s economic growth. However, there is a large discussion on the channels through which this impact occurs. Several studies suggest that financial development promotes growth through two main channels: capital accumulation and gains in productivity."