Arbeitspapier
Does too much finance harm economic growth?
This study provides new evidence on the relationship between finance and economic growth using an innovative dynamic panel threshold technique. The sample consists of 87 developed and developing countries. The empirical results indicate that there is a threshold effect in the finance-growth relationship. In particular, we find that the level of financial development is beneficial to growth only up to a certain threshold; beyond the threshold level further development of finance tends to adversely affect growth. These findings reveal that more finance is not necessarily good for economic growth and highlight that an optimal level of financial development is more crucial in facilitating growth.
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 711
- Klassifikation
-
Wirtschaft
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
One, Two, and Multisector Growth Models
- Thema
-
Finance
economic growth
threshold effects
dynamic panel threshold
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Singh, Nirvikar
Law, Siong Hook
- Ereignis
-
Veröffentlichung
- (wer)
-
University of California, Economics Department
- (wo)
-
Santa Cruz, CA
- (wann)
-
2013
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Singh, Nirvikar
- Law, Siong Hook
- University of California, Economics Department
Entstanden
- 2013
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