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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 |
MARC
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| 100 | 1 | |a Arcand, Jean-Louis, |e author. | |
| 245 | 1 | 0 | |a Too much finance? / |c prepared by Jean-Louis Arcand, Enrico Berkes and Ugo Panizza. |
| 260 | |a [Washington, D.C.] : |b International Monetary Fund, |c ©2012. | ||
| 300 | |a 1 online resource (50 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 340 | |g polychrome. |2 rdacc |0 http://rdaregistry.info/termList/RDAColourContent/1003 | ||
| 347 | |a data file | ||
| 490 | 1 | |a IMF working paper ; |v WP/12/161 | |
| 500 | |a Title from PDF title page (IMF Web site, viewed June 25, 2012). | ||
| 520 | |a 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. | ||
| 504 | |a Includes bibliographical references. | ||
| 500 | |a "Research Department." | ||
| 500 | |a "June 2012." | ||
| 505 | 0 | |a Cover; Contents; I. Introduction; II. Country-Level Data; A. Cross-Sectional Regressions; 1. Semi-parametric estimations; B. Panel Regressions; 1. Semi-parametric estimations; III. Volatility, Crises, and Heterogeneity; IV. Industry-Level Data; V. Conclusions; References; Tables; 1. Cross-Country OLS Regressions; 2. Cross-Country OLS Regressions; 3. Tests for an inverse U-shape; 4. Panel Estimations; 5. Panel Estimations; 6. Panel Estimations: 10-year Growth Episodes; 7. Volatility and Banking Crises; 8. Institutional Quality and Bank Regulation and Supervision. | |
| 505 | 8 | |a 9. Rajan and Zingales Estimations10. Data Description and Sources; 11. Summary Statistics; Figures; 1. Marginal Effect Using Cross-Country Data; 2. Semi-Parametric Regressions; 3. Credit to the Private Sector; 4. Marginal Effect Using Panel Data; 5. Countries with Large Financial Sectors (2006); 6. Semi-Parametric Regressions using Panel Data; 7. The Marginal Effect of Credit to the Private Sector with High and Low Output Volatility; 8. The Marginal Effect of Credit to the Private Sector during Tranquil and Crisis Periods. | |
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Finance |x Econometric models. | |
| 650 | 0 | |a Economic development |x Econometric models. | |
| 650 | 6 | |a Finances |x Modèles économétriques. | |
| 650 | 6 | |a Développement économique |x Modèles économétriques. | |
| 650 | 7 | |a Croissance économique. |2 eclas | |
| 650 | 7 | |a Développement économique. |2 eclas | |
| 650 | 7 | |a Banques. |2 eclas | |
| 650 | 7 | |a Bourses des valeurs. |2 eclas | |
| 650 | 7 | |a Politique fiscale. |2 eclas | |
| 650 | 7 | |a UE/CE Euro. |2 eclas | |
| 650 | 7 | |a Economic development |x Econometric models |2 fast | |
| 650 | 7 | |a Finance |x Econometric models |2 fast | |
| 700 | 1 | |a Berkes, Enrico, |e author. | |
| 700 | 1 | |a Panizza, Ugo, |e author. | |
| 710 | 2 | |a International Monetary Fund. |b Research Department, |e issuing body. | |
| 758 | |i has work: |a Too much finance? (Text) |1 https://id.oclc.org/worldcat/entity/E39PCFBK8gW94rThm4XYC6mxfy |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 830 | 0 | |a IMF working paper ; |v WP/12/161. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1606809 |z Texto completo |
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