econometric model

Introduction. At present, the central problem for most countries in the world is to achieve sustainable economic growth rates. Traditionally, the factors of economic growth include labor, natural resources, physical capital, technology. Recently, the level of development of the financial system and, in particular, of the banking sector providing loans to the real sector of the economy with financial resources has been singled out separately.

Introduction. The aim of the work is to econometrically study the impact of bank lending on economic growth rates on the basis of cross-country comparisons based on average data for 2005–2015. Theoretical analysis. In the article it is proposed to use the Schumpeterian model of convergence between countries with financial constraints, which was improved in [1] to analyze the influence of bank lending on economic growth.

Introduction. Currently, the study of the role of financial intermediation as an important auxiliary mechanism of economic growth has received considerable attention in the theoretical and empirical literature. The problems of economic and mathematical modeling of causal relationships between the rates of economic growth and the dynamics of the financial system development attract the attention of a large number of both foreign and Russian specialists.