Sunday, August 28, 2011

Jackson Hole Economic Symposium (fg)

Jackson Hole Economic Policy Symposium 2011.

Papers include topics on 'Assessing Current Trends in Global Growth', 'Balancing Growth with Equity', 'Managing Natural Resources in Developing Economies', 'Regulating Financial Markets and Institutions to Promote Growth, and 'Aligning International Capital Flows with Growth'.

A paper I find worth mentioning is from R. Levine on regulating financial markets and insitutions to promote growth:
A broader, long-run consideration of financial development suggests that financial innovation is essential for growth. [...] Without corresponding innovations in finance that match the increases in complexity associated with economic growth, the quality of the financial services diminishes, slowing future growth
Furthermore, both bank and stock market development are independently
associated with growth, suggesting that the policy debate about whether to promote a bank-based system or a market-based financial system misses the big point. Banks and markets matter for growth.