Too much finance?

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dc.contributor.authorArcand, Jean-Louis
dc.contributor.authorBerkes, Enrico
dc.contributor.authorPanizza, Ugo
dc.date.accessioned2023-11-13T15:24:00Z
dc.date.available2023-11-13T15:24:00Z
dc.date.issued2015-05-08
dc.description.abstractThis 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.en
dc.description.urihttps://link.springer.com/article/10.1007/s10887-015-9115-2en
dc.format.extent50 pagesen
dc.genrejournal articlesen
dc.genrepreprintsen
dc.genreworking papersen
dc.identifierdoi:10.13016/m2bcrq-6rg4
dc.identifier.citationArcand, Jean Louis, Enrico Berkes, and Ugo Panizza. “Too Much Finance?” Journal of Economic Growth 20, no. 2 (June 1, 2015): 105–48. https://doi.org/10.1007/s10887-015-9115-2.en
dc.identifier.urihttps://doi.org/10.1007/s10887-015-9115-2
dc.identifier.urihttp://hdl.handle.net/11603/30704
dc.language.isoenen
dc.publisherSpringer Natureen
dc.relation.isAvailableAtThe University of Maryland, Baltimore County (UMBC)
dc.relation.ispartofUMBC Economics Department Collection
dc.rightsThis item is likely protected under Title 17 of the U.S. Copyright Law. Unless on a Creative Commons license, for uses protected by Copyright Law, contact the copyright holder or the author.en
dc.titleToo much finance?en
dc.typeTexten
dcterms.creatorhttps://orcid.org/0000-0001-5117-9918en

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