Financial Development and Economic Growth in Transition Economies : Empirical Evidence from the CEE and CIS Countries

@inproceedings{Cojocaru2012FinancialDA,
  title={Financial Development and Economic Growth in Transition Economies : Empirical Evidence from the CEE and CIS Countries},
  author={Laura Cojocaru and Saul D. Hoffman and J. Benjamin Miller},
  year={2012}
}
We examine the role of financial development in economic growth in the former Communist countries of Central and Eastern Europe and the Commonwealth of Independent States during the first two decades since the beginning of transition. These countries, which had undeveloped financial systems under Communism, provide an interesting test of the relationship between financial development and growth. We show that credit to the private sector had a positive effect on growth in these countries… CONTINUE READING

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