Cargando…
Too much finance? /
This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
|
| Colección: | IMF working paper ;
WP/12/161. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a negative effect on output growth when credit to the private sector reaches 100% of GDP. We show that our results are consistent with the "vanishing effect" of financial development and that they are not driven by output volatility, banking crises, low institutional quality, or by differences in bank regulation and supervision. |
|---|---|
| Notas: | Title from PDF title page (IMF Web site, viewed June 25, 2012). "Research Department." "June 2012." |
| Descripción Física: | 1 online resource (50 pages) |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 9781475554311 1475554311 1475504667 9781475504668 1475526105 9781475526103 |