Summary of Finance and Inclusive Growth
This abstract builds on Cournède, B., O. Denk and P. Hoeller (2015), "Finance and Inclusive Growth", OECD Economic Policy Papers, No. 14, OECD Publishing, Paris.
The massive growth of credit and equity markets in OECD countries has opened up an unintended can of worms.
The massive upsurge in private sector credit and stock market capitalization in OECD countries in recent decades has been both a blessing and a bane. While the increased availability of debt and equity finance can help promote economic output, too much of a good thing can quickly become bad. OECD economists Boris Cournède, Oliver Denk and Peter Hoeller investigate this tendency and offer essential insights into the complex interplay of finance and the real economy, which getAbstract suggests to policy makers, financial professionals and regulators.
In this summary, you will learn
- How growth in credit and stock markets in OECD countries has been both good and bad,
- How this expansion affects economic growth and income inequality, and
- What policy makers can do to encourage responsible practices among financial institutions.
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