Article - Problems of Modern Economics

Vlaskin P. G.
PhD student, Chair of Political Economy, Department of Economics, M.V. Lomonosov Moscow State University
Teniakov I. M.
Chair of Political Economy, Department of Economics, M.V. Lomonosov Moscow State University, PhD (Economics), Professor

The impact of finances upon the economic growth in developed and developing countries (Russia, Moscow)

The article systematizes approaches to the evaluation of the impact produced by finances upon the economic growth and conducts the econometric evaluation of this impact for the developed countries and developing countries (the cases of Great Britain and China, correspondingly). The author defines the specificity of impact produced by finances on the economies of the countries under discussion, and emphasized the high significance of the direct factors of economic growth, as well as the negative dependence of the economic growth and financialization.

Key words: finances, financialization, financial development, economic growth, century-long stagnation, econometric model

Pages: 94 - 99

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