Ekonomický rast a rola finančného systému

The diploma thesis examines what is the role of financial development in the context of economic growth. The most influencing factors of the financial development are selected based on panel data regression. Determinants of the financial development represent both the banking sector and the financial markets. Panel of 42 European countries over the 1996-2015 period is analysed. The effect is controlled on the other three groups of countries. The results indicate an~ambiguous impact of the financial development on economic growth. Based on the analysis results recommendations are formulated for policy makers and investors