Financial Development, Financial Fragility, and Growth

Financial Development, Financial Fragility, and Growth
This paper studies the apparent contradictions between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private domestic credit and liquid liabilities. On the other hand, the... READ MORE...

Publication date: August 2005
ISBN 9781451861891
$15.00

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