Supervisors info:
Λοϊζος Κωνσταντίνος, Επισκέπτης Καθηγητής, Τμήμα Οικονομικών Επθιστημών, ΕΚΠΑ
Summary:
Abstract
The aim of the thesis was to study the extent to which shadow banking affects economic growth. The thesis focused on the case of developed economies and included the collection of data for eight European countries, during 2006-2022. For the purposes of the thesis, data were collected regarding on one hand the five economic functions of shadow banking, as defined by FSB and on the other hand the following indicators of economic growth: (i) GDP, (ii) gross domestic savings, (iii) general government consumption expenses and (iv) inflation. Overall, the analysis showed that, in the case of developed economies, shadow banking has a positive impact on economic growth, meaning that shadow banking’s growth contributes to the economic growth. Further, it occurs that shadow banking has a statistically significant and positive impact on gross domestic savings and general government consumption expenses indices. However, it was not possible to extract safe conclusions regarding shadow banking’s impact on GDP and inflation, as in the case of some countries, a statistically significant and positive impact was observed, whereas in the case of other countries, a statistically significant and negative impact or no statistically significant impact was observed.
