Relation between the financial globalization and the real economy growth: a review

Our goal is to make a bibliographical review about the multiple factors that
have a bearing on the relationship between the financial globalization process
and the real economy growth, and to propose an explanatory framework.
The factors that have contributed to the emergence and development of the
financial globalization have a direct effect in the financial development level.
This level, through the capital cost reduction and the improvement of the
efficiency, derives in a growth of the real economy.
However, this approach has been conditioned by two possible limiting factors: on the one hand, the
possible reverse causality and, on the other, the existence of distortions that
can be due to the negative effects carried by the financial globalization, or to
some factors that have no relationship with it
Sara Urionabarrenetxea Zabalandikoetxea
Amaia Bañales Mallo
José Domingo García Merino
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