Financial and Monetary Systems

The complicated relationship between easy credit and economic growth

Rising financial constraints can also have a positive effect on aggregate economic productivity. Image: REUTERS/Yuriko Nakao

Philippe Aghion

Professor, College de France and London School of Economics

Antonin Bergeaud

Economist , Bank of France

Gilbert Cette

Deputy Director General, Economics and International, Banque de France

Remy Lecat

Head, Trade and Structural Policy Analysis Division, Banque de France

Helene Maghin

PhD candidate in Economics, KU Leuven

Share:

Our Impact
The Big Picture
Explore and monitor how Financial and Monetary Systems is affecting economies, industries and global issues
Crowdsource Innovation
Get involved with our crowdsourced digital platform to deliver impact at scale

Stay up to date:

Financial and Monetary Systems

Have you read?

Each dot represents a sector in a specific year from 2006 to 2016. TFP growth and spread (the difference between average rate of new loans by manufacturing firms in France and the average EONIA) have been residualised on a sector-fixed effect.

License and Republishing

World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

Related topics:

Financial and Monetary SystemsBanking and Capital MarketsCircular EconomyEconomic Progress

Share:

Global Agenda

The Agenda Weekly

A weekly update of the most important issues driving the global agenda

Subscribe

You can unsubscribe at any time using the link in our emails. For more details, review our privacy policy.

Japan has the lowest inflation of all major economies but will continue feeling the pressure. Here's why
About Us
Events
Media
Partners & Members
Language Editions

Privacy Policy & Terms of Service

© 2022 World Economic Forum