Abstract
The 2008 global financial crisis showed not only that there is a link between real economy and financial markets, but also that financial stability is necessary for investment, innovation and of course economic growth. Regarding the link between real and financial sectors, several studies long before the 2008 financial crisis revealed positive impacts from financial sector on real economy, basically because a solid financial system promote physic and human capital accumulation, see Banerjee and Newman (1993) Galor and Zeira (1993), Aghion and Bolton (1997), Piketty (1997), Levine (1997), Levine and Zervos (1998), Rajan and Zingales (1998). When considering well-developed financial markets as economic growth promoters the researches of Levine (2005), Aghion et al. (2005) and Acemoglu et al. (2006) proved that financial develop indeed accelerates economic growth.
© 2015, School of Accounting and Management, National Autonomous University of Mexico. All rights reserved. Publication of the article implies full assignment of property rights (copyright) in Journal of Accounting and Management. The publication mreserves the right to total or partial reproduction of the work in other print, electronic or any other alternative means, but always recognizing its responsibility.
Unless otherwise stated, all contents of the electronic edition of the journal are distributed under a license and distribution "Creative Commons Attribution-Noncommercial 4.0 International" (CC-by). You can see from here the version of the license information. This circumstance must be expressly stated in this way when necessary.