Financial development, liberalisation and productivity growth

点击翻译按钮获取中文摘要

The analysis performed in this project will provide some new insights into the role of financial policies in bolstering productivity growth. This issue deserves more attention from the policy circle given that a better understanding of the mechanisms by which finance affects growth performance allows policy makers to evaluate the costs and benefits associated with liberalising and deepening the financial systems, thus enabling the formulation of effective financial policies. This understanding is critical to achieve the Australian policy makers' objective of promoting financial stability and strengthening growth.