The Role of Finance in Economic Development: Benefits, Risks, and Politics

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Political Institutions and Bank Risk-Taking Behavior (2015, unknown): “For example, Beck (2011) argues that unconstrained governments dislike competitive financial system because an uncompetitive financial system acts as a source of rents for the government4 on the one hand, while competitive financial system can finance opponents on the other hand.”
Finance and income inequality in OECD countries (2015, unknown): “In addition, evidence indicates that the relaxation of bank branching restrictions in the United States reduced inequality by boosting incomes in the lower part of the distribution (Beck et al., 2010). By contrast, Claessens and Perotti (2007) stress that financial liberalisation, aimed at facilitat”
Finance and economic growth in OECD and G20 countries (2015, background): “A large number of transmission channels may operate from finance to long-term GDP growth, some with the tendency to increase, others to slow down growth (for overviews, see e.g. Beck, 2012; Levine, 2005).”
Presidential Address: Does Finance Benefit Society? (2015, background): “A large body of evidence (summarized in Levine (1997, 2005) and Beck (2011)) documents that on average a bigger banking sector (often measured as the ratio of private credit to GDP) is correlated with higher growth, both cross-sectionally and over time.”