Dynamic Models for the Inter-Relations of Real and Financial Growth (1991)Hardcover - 1991, 30 June 1991

The high growth rate in many industrial countries during the first two decades after World War II produced a financial expansion, which in its turn made possible an extension of the growth process. But it also led to a financial crisis, when increasing costs during the 1970s created growing deficits in the balance of payments and the government budgets in many countries.