Reassessing the impact of finance on growth

Reassessing the impact of finance on growth

Reassessing the impact of finance on growth

BIS Working Papers | No 381 | 17 July 2012by Stephen G Cecchetti and Enisse KharroubiPDF full text (98kb) | 21 pagesThis paper investigates how financial development affects aggregate productivity growth. Based on a sample of developed and emerging economies, we first show that the level of financial development is good only up to a point, after which it becomes a drag on growth.

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