Research Discussion Paper – RDP 9213 The Impact of Financial Intermediaries on Resource Allocation and Economic Growth

Contents

• Introduction
• Growth Through Knowledge Accumulation
• The Role of the Financial System in Knowledge Accumulation and Growth
• The Australian Experience
• Summary and Conclusions
• References

This paper was prepared for the Tenth Pacific Basin Central Bank Conference titled “Financial Deepening and Economic Growth in Pacific Basin Economies” held in Beijing, China from 12 to 16 October 1992. I am grateful to Adrian Blundell-Wignall, Gordon de Brouwer, Tom Rohling and Geoff Shuetrim for helpful comments and discussions. Any errors are mine alone. The views expressed herein are those of the author and do not necessarily reflect those of the Reserve Bank of Australia.