Financial Development and Economic Growth

Financial Development and Economic Growth
This paper examines the empirical relationship between long-run growth and the degree of financial development, proxied by the ratio of bank credit to the private sector as a fraction of GDP. We find that this proxy enters significantly and with a positive sign in growth regressions on a large cross-country sample, but with a negative sign using... READ MORE...

Publication date: December 1992
ISBN 9781451852455
$15.00

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